Imvax awarded $2M grant to build first of its kind cell processing center
PHILADELPHIA, PA (February 22, 2021) — Imvax, Inc., an emerging oncology leader that is revolutionizing immunotherapy for patients with Glioblastoma Multiforme (GBM) and other cancers, has been awarded a $2 million grant by the Redevelopment Assistance Capital Program (“RACP”) to support construction of the company’s cell processing center at the company’s headquarters in The Curtis, Philadelphia, PA.
“The sophisticated capabilities of this new center will give Imvax the potential to treat numerous deadly cancers, such as GBM,” said John Furey, CEO of Imvax. “The work made possible by this grant will benefit research and development for years to come.”
The company’s lead candidate, IGV-001, is a first-in-class personalized immunotherapy for GBM that uses the patient’s own tumor cells combined with an antisense molecule to induce a potent immune response.
The investigational treatment comprises irradiated autologous glioma cells with an antisense oligodeoxynucleotide directed at the IGF-1R (Insulin-like Growth Factor type one Receptor). Delivered through an implantable and removable bio-diffusion chamber, antigenic products are released and initiate both an innate and adaptive response. Most significant, the center will be a GMP-level (“Good Manufacturing Practices”) facility, capable of manufacturing both investigational and commercial supplies of IGV-001 and subsequent products derived from the same technology. We expect this facility to be fully operational in 2h of 2021.
When operational, the facility will directly employ 11 individuals and enable the company to expand its current workforce in the next year to 45 scientists, researchers and clinical administrators.
The RACP grant is administered by the Pennsylvania Office of the Budget for the acquisition and construction of regional economic, cultural, civic, recreational, and historical improvement projects.
For more information about Imvax, please visit www.imvax.com.
About Imvax, Inc.
Imvax™ is an emerging oncology leader that is revolutionizing immunotherapy for patients with Glioblastoma Multiforme (GBM) and other solid tumors with significant unmet medical needs. It’s lead platform is IGV-001, an autologous tumor cell immunotherapy that delivers a multi-pronged response against tumor cells by leveraging the patient’s immune system as a defense mechanism. Imvax, Inc., headquartered in Philadelphia, PA, has an exclusive license agreement with Thomas Jefferson University granting it the right to develop and market this medical technology. For additional information, please visit www.Imvax.com.