Today, Primmune Therapeutics, a biotech company harnessing the power of the innate immune system, announced an additional close of its Series B financing round for a total of $8.6 million with participation from Bioqube Ventures, Oberland Capital and Samsara Biocapital. This close brings the total Series B raise to $23.3 million.
These funds will be used to support the further clinical development of PRTX007, a novel orally administered, systemically acting, small molecule toll-like receptor 7 (TLR7) agonist as an immunotherapy for solid tumors.
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With the latest close of the Series B financing, Primmune Therapeutics will initiate Study PRTX007-003, a Phase 2 neoadjuvant efficacy study using PRTX007 in combination with standard-of-care anti-PD-1 therapy in patients with Stage III resectable melanoma.
“This financing enables us to rapidly advance PRTX007 into a clearly defined proof-of-principle study with validated efficacy and safety endpoints, with the goal of establishing PRTX007 as a class-leading immunotherapy option for patients with solid tumors,” said Charlie McDermott, Chief Executive Officer and Director of Primmune Therapeutics.
The study will be conducted entirely in Australia by Primmune Therapeutics Pty Ltd. in conjunction with Novotech acting as the in country clinical research organization.
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