MimiVax Announces New Investments to Support Clinical Development of SurVaxM in Glioblastoma

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Jan 09, 2024, 09:18 ET

Investors feature leading brain tumor venture philanthropy funds including the Brain Tumor Investment Fund (BTIF) and The Sontag Innovation The along with MEDA Angels, Varia Ventures and private investors.
Investment catalyzed by positive results from Phase 2a study of SurVaxM in newly diagnosed glioblastoma (ndGBM) published in the Journal of Clinical Oncology.
Funding will support the ongoing Phase 2b clinical study and subsequent registration-related initiatives.

BUFFALO, N.Y., Jan. 9, 2024 /PRNewswire/ -- MimiVax, Inc., a biotechnology company focused on the development of SurVaxM, a survivin-targeted vaccine therapy for glioblastoma and other cancers, today announced new investments from the venture philanthropy arms of leading brain tumor patient organizations, VC, private and existing investors.

The investments from the Brain Tumor Investment Fund (BTIF), an affiliate of the National Brain Tumor Society (NBTS), the Sontag Innovation Fund, LLC, a subsidiary of the Sontag Foundation, the MEDA Angels, LLC, Varia Ventures and private investors will support the ongoing phase 2b clinical study, subsequent registration-related work and prepare the company for commercialization of SurVaxM for ndGBM. Glioblastoma is a rare but deadly cancer with median overall survival of only about 16 months. SurVaxM was developed to bring a paradigm shift to a field that has seen little advancement in decades.

MimiVax is rapidly enrolling subjects in its SURVIVE trial [NCT05163080], a randomized, blinded, placebo-controlled Phase 2b clinical trial of SurVaxM among patients with ndGBM at 11 cancer centers across the USA. This follows the successful Phase 2a study published in the Journal of Clinical Oncology having met its primary endpoint, achieving a median overall survival (mOS) of 25.9 months – and further reporting that 41% of the patients receiving SurVaxM survived at least 3 years, with several long term progression-free survivors.

Investment funding is designed to help MimiVax achieve its goal of revolutionizing the landscape of brain tumor treatment. "We are honored to receive significant investments from The Brain Tumor Investment Fund, The Sontag Innovation Fund, MEDA Angels, Varia Ventures along with our private investors. "Their confidence in our mission further propels our efforts to make a meaningful impact in the lives of those affected by brain tumors," said Michael Ciesielski, CEO, MimiVax, Inc.

The Brain Tumor Investment Fund, known for its dedication to funding pioneering solutions in neuro-oncology, expressed enthusiasm about the partnership. "Brain tumor patients and caregivers desperately need better outcomes. The results seen in previous trials of SurVaxM make us optimistic for the SURVIVE Phase 2b trial and the potential for a new treatment on the horizon" said John Higgins, Managing Director of BTIF.

The MEDA Angels, (part of the Tech Coast Angels (TCA) network) are a health-care focused investor group founded by physician, payers and scientist-angel investors, supported by a team of regulatory, reimbursement, legal and financial advisors. "We knew the grave unmet need for game-changing therapy for glioblastoma, a devasting brain cancer with so limited average survival time of 16 months. After review of MimiVax' approach, targeting a strong epitope and the data through their Phase 2a, we became confident they were well worth backing." -MEDA Angels

The Sontag Innovation Fund, building on the reputation of the Sontag Foundation as one of the largest private funders of brain tumor research in North America, is proud to have MimiVax as a portfolio company. "There is an extraordinary unmet need for new treatments that make a major impact in the brain tumor space. We are excited to play a role in the development of promising therapies like SurVaxM" said Scott Davis, Managing Director of the Sontag Innovation Fund.

MimiVax extends its gratitude to The Brain Tumor Investment Fund, The Sontag Innovation Fund, MEDA Angels, Varia Ventures and our private investors for their support and confidence in the company's vision. This investment fortifies MimiVax's position as a key player in the quest for innovative solutions in the fight against brain tumors.

About MimiVax, Inc
MimiVax, Inc. is a Delaware-incorporated, clinical-stage biotechnology company focused on immunotherapy research and clinical translation of new agents for cancer treatment.

The Company was formed to develop and commercialize its lead candidate SurVaxM. For more information on MimiVax, visit www.mimivax.com or email [email protected].

About SurVaxM
SurVaxM is a first-in-class, patented immunotherapy that targets survivin, a cell-survival protein. SurVaxM is delivered subcutaneously and stimulates a patients' own immune response to control tumor growth and prevent future disease recurrence. Because survivin is present in many forms of cancer, SurVaxM could potentially have wide therapeutic applicability.

About the Brain Tumor Investment Fund
The Brain Tumor Investment Fund (BTIF) is the non-profit venture philanthropy arm of the National Brain Tumor Society (NBTS), the largest patient advocacy organization in the United States committed to curing brain tumors and improving the lives of patients and families. BTIF BTIF) invests in innovative biotechnology, pharmaceutical, and medical device companies developing promising new treatment opportunities for patients with brain cancer. (www.braintumorinvestmentfund.org)

About The Sontag Innovation Fund
The Sontag Innovation Fund, a wholly-owned venture subsidiary of The Sontag Foundation, one of the largest private funders of brain cancer research in the United States, made the investment. The Sontag Innovation Fund invests in early stage and innovative technologies with the potential to drive cures and improve the quality of life or life expectancy for brain cancer patients. (www.sontagfoundation.org/innovation-fund/)

About MEDA Angels
The MEDA Angels are a healthcare-focused angel investor group that invests liberally across mid-seed and Series A healthcare opportunities: both disease management and prevention. Importantly, many startups see an investment by MEDA as validation of the merits of their technology, as potential users, and payer friendly products. (www.medaangels.com)

About Varia Ventures
Varia Ventures is a next generation venture capital platform for professional organizations interested in building wealth for themselves and their members through investing in a portfolio of highly curated, emerging companies, originating from their organizations. Varia's platform blends insights from key opinion leaders, strategic partners, and industry experts through its "end-to-end" technology solution designed to support early stage companies while providing compelling investment opportunities to its investors. (www.varia.com)

SOURCE MimiVax, Inc.