PhosImmune vaccinates investment

PhosImmune, a US-based biotech, has raised investment from the Centre for Innovative Technology, a state-backed initiative. The size of the funding has not been disclosed.

PhosImmune was spun out of Virginia University in 2012 and is working on a cancer vaccine. Its technology – phosphorylated tumour antigen – uses tumour antibody generators that are derived from proteins implicated in metastasis – the cancer’s progression. The vaccine would be capable of targeting several forms of cancer, including leukaemia, melanoma, and breast cancer.

PhosImmune’s technology is also using memory T cells to create a powerful response to new tumours caused by metastasis. The basic concept is not dissimilar to what Juno Therapeutics is aiming to achieve. PhosImmune’s lead candidate, PxM-01, is currently undergoing a Phase I clinical trial to treat melanoma.

The Centre for Innovative Technology is a Virginia state-backed initiative that supports, among other things, early-stage companies based in the commonwealth through its CIT Gap Funds programme. It also has a programme to support technology transfer, called Commonwealth Research Commercialisation Fund.

Donald Hunt, president of PhosImmune, said: “We will use the investment from CIT GAP Funds to expand and continue our current trials, and to develop an additional phosphorylated tumour antigen-based immunotherapy.”