SHENZHEN and SHANGHAI, Sept.23, 2020 /PRNewswire/ — ImmVira Group Company, a biotechnology company focused on the development of new generation oncolytic viruses as potential cancer therapeutics today announced signing of US$10 million Series B Plus strategic financing. This round of financing will be exclusively funded by Shanghai Healthcare Capital (“SHC”), managed by SIIC Capital, where Shanghai Pharma is one of the founding strategic cornerstone LPs.
In August 2020, ImmVira and Shanghai Pharma announced a clinical collaboration and exclusive license agreement for ImmVira’s MVR-T3011 intratumoral oncolytic virus program for the commercialization of novel immunotherapies to treat solid malignant tumors.
“We warmly welcome SHC to be our strategic investor,” said Grace Zhou, Chairman and CEO of ImmVira. “This investment further deepens our collaboration in the MVR-T3011 intratumoral program and highlights the commitment from the parties to the program’s commercial success. An investment from one of the country’s leading integrated pharma and healthcare fund is also a promising validation to the approach of using genetically modified oncolytic virus as an effective remedy to treat cancer.”
“ImmVira is a leader in providing best-in-class oncolytic virotherapy treatments for patients in need. We are pleased with the progress on the MVR-T3011 intratumoral program and now also take an important stake as a shareholder,” said David Liu, CEO of SHC. “In-line with our dedication to promote the bio-pharmaceutical industry in China, we look forward to making strategic investment with best-in-class innovators like ImmVira and would like to expand our portfolio to include more rising life science companies like ImmVira.”