VerImmune, a Bethesda, MD-based biotechnology company developing virus-inspired particle (ViP™) platform technology, raised $4.5M in first closing of Pre-Series A funding.
The round was led by Beiley Biofund. New investors, including Dr. John Ballantyne, PhD, co-founder and former CSO at Aldevron, alongside returning investors Proxima Ventures, Mana Ventures, Gaingels and others, also participated.
The company intends to use the funds to expand operations and its development efforts.
Led by Dr Joshua Wang, PhD, Founder and CEO, VerImmune is developing virus-inspired particle (ViP™) platform technology that has the potential to treat multiple diseases. Its primary focus lies in the field of oncology, wherein the ViP technology enables a first-in-class cancer immunotherapy approach known as anti-tumor immune redirection (AIR). This method harnesses the body’s pre-existing immune system, specifically by leveraging the immune memory from past infections or childhood vaccination to combat cancer. By taking a highly orthogonal approach, VerImmune’s technology holds immense potential to revolutionize the Immuno-Oncology market, offering new treatment possibilities for patients facing limited options or resistance to current cancer therapies.
This closing also strengthens VerImmune’s Board of Directors with the addition of two seasoned executives with extensive experience in early-stage product development for novel modalities:
- Dr. Che Hsu, PhD, General Manager of Beiley.
- Dr. Marta New, PhD, MBA, an experienced drug developer and former venture capitalist. She is currently the CEO of Radyus Research and will join VerImmune as an independent director.
FinSMEs
24/09/2024