Vaccinogen Announces Formation of Company
Oct 1, 2007
Frederick, MD, USA – October 1, 2007 – Vaccinogen announced today the formation of the company and its capitalization. The purpose of Vaccinogen is to focus on the development of immunotherapy products for the treatment of solid tumors and on the commercialization of autologous tumor vaccine products.
Founded by Michael G. Hanna, Jr. Chairman and Chief Executive Officer, Vaccinogen is planning to complete the final translational development of OncoVAX®, a patient specific cancer vaccine to treat Stage II colon cancer. OncoVAX® was conceived by Dr. Hanna over 30 years ago and has been developed under his direction up to its present stage.
In conjunction with the formation of the company, a capitalization plan was initiated with an agreement between Vaccinogen and Mr. John Nicolis, its lead investor. Mr. Nicolis is a partner of Sydney, Australia-based Optimal Fund Management, a $3 billion investment management company.
The A-Round of investment in Vaccinogen is expected to remain open through the end of October.
OncoVAX® immunotherapy is based on a decades-long attempt by scientists to transform the body’s immune response and its long-term memory to prevent the return of the disease. Such an approach has already been successful in preventing a number of infectious diseases. In most cases immune stimulation creates a population of white blood cells that can kill tumor cells wherever they arise in the body, years after surgical removal of the original tumor.
Vaccinogen’s scientists prepare a vaccine from the patient’s own tumor. The cells are dissociated, irradiated to make them non-tumorigenic and administered to the patient by three weekly injections, starting four weeks after surgery. A booster vaccination is administered six months later.
Vaccinogen is a biopharmaceutical company developing and commercializing cancer vaccines and other immunotherapeutic products. Based in Frederick, MD, the company has a portfolio of product candidates for the treatment of cancer, infectious disease, autoimmune and anti-inflammatory diseases and fully human monoclonal antibodies in various stages of clinical development. The company maintains a European subsidiary in Emmen, The Netherlands that operates a fully functioning cGMP manufacturing center for the production of OncoVAX® vaccine.