Batu Biologics, an immuno-oncology company, announced Wednesday that it has successfully completed a $1 million seed round of funding.
Batu leveraged primarily private and angel funding to attain this fundraising goal. Proceeds from this funding round will be dedicated to preparing the ValloVax platform for entry into the clinical setting, thereby positioning Batu Biologics for a venture-backed Series A capital raise, the company said in a statement.
“The completion of this seed round of financing marks a critical inflection point in the development of our company and our lead program, ValloVax,” said Samuel C. Wagner, president and CEO of Batu Biologics. “Our strategy revolves around rapid clinical development, and we hope to soon realize the therapeutic potential of combining angiogenesis inhibition with the power of immunotherapy.”
Batu Biologics recently filed an Investigational New Drug (IND) application with the FDA seeking to initiate a Phase I dose-escalation study for ValloVax in patients with non-small cell lung cancer.
ValloVax is a polyvalent cancer vaccine that stimulates an immune response against the tumor-associated blood vessels, seeking to cut off the blood supply required for sustainable tumor growth. In preclinical testing, ValloVax was shown to inhibit new blood vessel formation in melanoma, breast and lung cancer mouse models.
Batu Biologics has published preclinical data for ValloVax in The Journal of Translational Medicine, describing the feasibility and proposed methods of inducing immunity against the tumor endothelium as well as a summary of efficacy and safety studies conducted for the ValloVax platform.