Regenerative medicine startup AiVita Biomedical has raised $2 million in series A financing from California Technology Ventures (CTV). The funding will support commercial operations and clinical and translational research. CTV managing director Alex Suh will join AiVita’s board.
Based in Orange County, California, AiVita is developing an immunotherapy for solid tumors, which may soon enter phase II clinical trials for ovarian cancer. The personalized therapy seeks to ‘teach’ a patient’s immune system to attack tumor-initiating cells, also called cancer stem cells. This therapy is designed as a stand-alone treatment but may also complement checkpoint inhibitors.
Immunotherapy investments have been hot lately. In 2015 (at least through the start of November) they accounted for $10.89 billion in deal value, according to Immunotherapy World. In April, Facebook co-founder Sean Parker pledged $250 million to support the burgeoning field. In addition, scientist and entrepreneur Patrick Soon-Shiong has made immunotherapy the centerpiece of his Cancer MoonShot 2020.
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AiVita is also investigating a treatment for age-related macular degeneration (AMD), using pluripotent stem cells to create retinal tissue. There are no effective therapies for dry AMD. VEGF inhibitors can limit the blood vessel growth associated with the wet variety; however, they do nothing to restore damaged retinal tissue.
In addition, AiVita sells a consumer skin care product, which is also based on stem cell technology, with the revenue supporting its ongoing research. This is part of a long-standing trend amongst biopharmaceutical companies, such as Helix Biomedix, to repurpose their medical research for the consumer market.
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