A company developing products to restore the immune system of cancer patients has raised $1.5 million and is now looking for strategic partners.
IRX Therapeutics’ lead product, IRX-2, aims to correct dendritic cell and T-cell defects in cancer patients in order to overcome cancer-induced immune suppression and restore antitumor response, according to the company’s website. The cell-based drug has completed a phase 2a trial in which it was well tolerated by patients with head and neck cancer, and showed a good safety profile, which suggests it could be combined with a number of cancer treatment regimens to improve their effectiveness.
“This last $1.5 million round will primarily fund the company’s efforts to align with strategic partners for the development of IRX-2,” chief financial officer Jeffrey Hwang said in an email.
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At least 40 additional unique cancer immunotherapies are currently being tested, according to a report from MD Becker Partners LLC, including ones developed by Bavarian Nordic, GlaxoSmithKline, Bristol-Myers Squibb, Oncothyreo/Merck and Transgene/Novartis.
IRX has raised more than $80 million so far and has received Fast Track Designation from the U.S. Food and Drug Administration.