- BioEclipse Therapeutics, a private clinical-stage biopharmaceutical company, announced it raised $7.7 million in Series A-1 financing round
Private clinical-stage biopharmaceutical company BioEclipse Therapeutics is known for developing high-quality curative immuno-oncology therapeutics. BioEclipse recently announced it raised $7.7 million in its Series A-1 financing round, which was led by Revelis Capital Group and managed by VENTURE.co Brokerage Services with participation from Tsingyuan Ventures, DEFTA Partners, TSVC (TEEC Angel Fund), and Plum Alley. Including this round, BioEclipse has now raised a total of $9.3 million to date.
With this round of funding, BioEclipse will initiate human trials of CRX-100, which is the company’s patented and intravenous tumor-targeted combination immunotherapy.
BioEclipse is also expecting to file an Investigational New Drug application (IND) with the U.S. Food and Drug Administration by the end of 2019 and plans to initiate a Phase 1b/2a clinical trial of CRX-100 in therapy-refractory solid tumors during the first quarter of 2020. And BioEclipse intends to enroll patients with therapy-refractory solid tumors, including ovarian cancer in the first study.
BioEclipse also announced the addition of three new board members Mark Frohlich, MD (former Executive Vice President at Juno Therapeutics), Elona Baum (Managing Director of DEFTA Partners), and Oliver Hopkinson (Co-Founder and Manager of Revelis Capital Group).
“The Series A-1 financing is a watershed moment for BioEclipse,” said BioEclipse founder and CEO Pamela Contag, Ph.D. “The company is now in prime position to advance a potentially groundbreaking immunotherapy – CRX-100 – that offers the potential to treat a broad range of solid and liquid tumors through a synergistic, multi-targeted mechanism of action that harnesses activated immune cells in combination with a tumor killing oncolytic virus. We believe our patented technology is unlike anything in development, and we look forward to utilizing the funds from the Series A-1 financing to initiate the first clinical trial of CRX-100.”
CRX-100 was designed to activate the patients’ natural immune cells and pair those cells with a tumor-killing agent thus eradicating cancer cells and creating an environment that protects the patient from tumor growth recurrence.
This immunotherapy could provide a potentially curative therapy to patients with a broad range of solid and liquid tumors including hard to treat cancers and some pediatric cancers. And preclinical studies have demonstrated that the BioEclipse proprietary drug product can deliver approximately a thousand-fold increase in cytotoxicity versus preclinical studies of the two drug substance components — which are both immunotherapies that have been tested in humans without eliciting serious side effects.
“I am honored to welcome Mark, Elona and Oliver to our board,” added Dr. Contag. “Each brings a wealth of knowledge and experience to our board and understands the importance of the work we do. Our entire board looks forward to working with them.”
