A cancer vaccine developer has appointed a life sciences entrepreneur as chairman.
Dr. Wolfgang Oster is a managing partner for the life sciences fund at PolyTechnos, which focuses on investment in early stage, technology-oriented companies. Although the venture capital firm’s focus has been primarily on German companies, it has invested in several U.S.-based life sciences businesses. Oster worked for several years at U.S. Bioscience, which was later acquired by Maryland-based MedImmune in 1999.
Last month, Berwyn, Pennsylvania-based Formula Pharmaceuticals added pharmaceutical veteran Martyn Greenacre to its board and is in the midst of raising $13 million to advance its oncology therapeutic through phase 2 clinical trials.
The company’s vaccine is designed to be used during first remission for acute myeloid leukemia and other aggressive cancers.