PHILADELPHIA, PA — Imvax, Inc, recently closed a $29 million financing round from existing investors. This marks the latest milestone in the company’s fundraising efforts, which have totaled $86 million over the past 21 months. The funding will be critical to completing the ongoing Phase 2b trial of IGV-001, Imvax’s experimental therapy for newly diagnosed glioblastoma (ndGBM).
The Phase 2b trial, a randomized, multicenter, double-blind, placebo-controlled study, is assessing the safety and efficacy of IGV-001 in approximately 100 participants across 20 sites in the U.S. The therapy is an autologous biologic-device combination product developed through Imvax’s Goldspire® immuno-oncology platform. Utilizing a patient’s own tumor cells, IGV-001 is designed to induce a broad and durable immune response against the cancer. The study’s primary endpoint is progression-free survival (PFS), with secondary endpoints including overall survival (OS) and safety.
“We are grateful for the support of our existing investors in this latest fundraising, which reflects their continued belief in the promise of IGV-001 for the thousands of patients facing a GBM diagnosis each year,” said John P. Furey, Chief Executive Officer of Imvax. “The financing provides us with operating flexibility well beyond the readout of the topline results of our Phase 2b trial, which we remain on track to report in mid-2025.”
The IGV-001 therapy involves implanting biodiffusion chambers that contain a combination of the patient’s whole tumor-derived cells and an antisense oligonucleotide called IMV-001. These chambers are removed after 48 hours, following which all patients receive standard-of-care treatments, including radiotherapy and temozolomide.
Earlier studies of IGV-001 showed promising results. A Phase 1 trial demonstrated the treatment’s safety and tolerability, while a Phase 1b study for ndGBM indicated significant efficacy signals. Patients treated with IGV-001 achieved median PFS of 17.1 months compared to 6.5 months in traditional therapies. Median OS extended to 38.2 months, significantly longer than the 16.2 months seen in standard-of-care treatment.
Glioblastoma is the most common and aggressive brain cancer, affecting approximately 14,000 Americans each year. Average life expectancy following diagnosis remains just 12 to 15 months, with less than 7 percent of patients surviving five years.
The latest financing round underscores the critical importance of advancing treatments for this devastating disease. If successful, IGV-001 could represent a groundbreaking step forward in glioblastoma therapy and improve outcomes for thousands of patients.
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