Provenance closes an $8 million financing agreement

Wednesday, December 28, 2011 01:11 PM

Provenance Biopharmaceuticals has closed an $8 million financing arrangement with Alopexx Enterprises for the continued development of anti-cancer therapeutic, DI-Leu16-IL2.

DI-Leu16-IL2 is among a class of molecules called immunocytokines that are being developed for the treatment of various forms of cancer. Immunocytokines, combine the immune stimulating features of cytokines with the targeting properties of antibodies. DI-Leu16-IL2, Provenance's most advanced program, is a de-immunized form of an anti-CD20 antibody, Leu16, genetically fused to the cytokine, interleukin 2 (IL2). DI-Leu16-IL2 is being studied for the treatment of non-Hodgkin's lymphoma and other forms of hematological cancer and is currently in an investigator sponsored Phase I clinical trial.

Under the terms of the financing, Provenance and Alopexx Enterprises have formed a new company, Alopexx Oncology to manage the clinical development of DI-Leu16-IL2. Financial details of the transaction are not disclosed.

Share:          
CWWeekly

January 26

2015 CRO outlook: M&As, IPOs, strategic partnerships and increased eClinical outsourcing expected to continue

IOM, industry stakeholders propose standards, guidelines for open sharing of clinical trial data

Already a subscriber?
Log in to your digital subscription.

Subscribe to CWWeekly.

The CenterWatch Monthly

January

All eyes on EMA’s adaptive licensing pilot
Sponsors could offer innovative drugs to patients 8 years sooner

Ice Bucket Challenge a boon for ALS research
Donations soar, but phenomenon difficult to replicate

Already a subscriber?
Log in to your digital subscription.

Purchase the October issue.

Subscribe to
The CenterWatch Monthly.

The CenterWatch Monthly

December

Growing adoption of feasibility review committees
Early reports cite fewer amendments, improved cycle time

AMCs vying to better compete for industry trials
Working to conquer study start-up delays, IRB review process

Already a subscriber?
Log in to your digital subscription.

Purchase the October issue.

Subscribe to
The CenterWatch Monthly.

JobWatch centerwatch.com/jobwatch

Featured Jobs