Immunicom, a biotechnology company awarded FDA Breakthrough Device Designation for its non-pharmaceutical solution for treating late-stage metastatic cancer, raised $11 million in a Series B investment round.
Image: Willdan secures £159m credit. Photo: Courtesy of Gerd Altmann/Pixabay
Several private equity family offices participated in the Series B financing which now increases Immunicom’s overall capital raised to $20 million.
“Proceeds from this financing will help fund the 170-patient, randomized, multi-center, triple-negative breast cancer clinical trial we began May 31, while also fueling continued expansion of Immunicom’s global strategic partnerships,” said Amir Jafri, the company’s Founder and CEO. “We are making great strides towards our vision of introducing a cancer immunotherapy that has the potential to be safer than most presently available treatments and very cost-effective. We truly appreciate the ongoing support of our investment partners for enabling us to achieve a rapid growth trajectory.”
The revolutionary new immunotherapy treatment Immunicom has developed is called Immunopheresis and offers the potential to revitalize a cancer patient’s immune system to naturally fight tumor cells without introducing any new chemicals, proteins or antibodies into the body. Performed utilizing out-patient procedures analogous to standard dialysis treatments for removing unwanted waste products from a patient’s bloodstream through external filtration, Immunopheresis uses Immunicom’s proprietary blood filtering device technology to extract tumor-produced proteins in the bloodstream that inhibit the body’s natural immune system from attacking and eradicating tumors. This approach provides for a potentially robust immune response against the tumor cells and is intended to function also as an ideal adjunct therapy to existing treatments.
“Immunicom is uniquely positioned to have a fundamental impact on improving the lives of cancer patients worldwide,” added David Schlotterbeck, Chairman of Immunicom and the former Co-Chairman of Cardinal Health. “Successfully bringing to market a medical device that not only has strong potential to treat a wide variety of cancer types, but with relatively straightforward design modifications may be reconfigured to treat other major illnesses as well, would be an industry game-changer. And that is precisely the objective our organization strives to achieve.”
Source: Company Press Release