Mirror Biologics, Inc. Closes a $14 Million Financing Round

Mirror Biologics, Inc., a clinical-stage immunotherapy company specializing in the development, manufacturing, commercialization, and clinical translation of next-generation therapeutic in-situ vaccines for cancer and infectious diseases, closed a $14 million private equity round led by Bradbury Asset Management, a Hong Kong-based asset management company.

Mirror Biologics is headquartered in Tampa, Florida, and has a wholly-owned subsidiary conducting GMP manufacturing and related R & D located in Jerusalem.

The Mirror Effect® technology, protected by over 200 issued patents worldwide, enables the use of a non-genetically manipulated, “off-the-shelf” living immune cell called “AlloStim®” derived from the blood of healthy donors to elicit an anti-cancer immune response customized to a patient’s resident disease regardless of the type of cancer the patient has and without prior need to know the antigenic or genetic characteristics of the disease. In addition, AlloStim® immunomodulatory properties are harnessed to create a “universal respiratory viral vaccine” for healthy adults over 65 years by changing the immune system to respond to viral infection in the same manner as a healthy younger immune system. In this manner, it is expected that AlloStim® may protect against COVID-19, all variants, known and unknown, influenza, RSV, and other potentially pandemic viruses which might emerge in the future.

The proceeds of the financing will advance the company’s clinical development programs, including a Phase IIb pre-registration clinical trial in metastatic colorectal cancer, a Phase I/II universal respiratory viral vaccine trial and will enable the launch of the “ALIVE” Phase II/III randomized, controlled registration clinical trial for Asian subjects with advanced, treatment-naïve, liver cancer. The ALIVE trial is expected to begin in late Q1-2022/early Q2-2022 in Malaysia and Thailand. In addition, the Jerusalem facility will be expanding production capacity and adding administrative and technical staff, including aseptic processing technicians, QC research associates, controller, and HR director.

Keith Loo, the CEO of the Bradbury Group, said that “we are excited to be investing in Mirror Biologics, Inc. and support the advancement of  its experimental drug AlloStim®. We believe that the drug, based on the Mirror Effect® technology, will create an “off the shelf,” non-toxic, effective and affordable treatment for cancer and infectious diseases that can be delivered in an out-patient setting. The focus on liver cancer in Asia is highly needed as this disease is endemic in the region. We were particularly impressed with the results of a prior Phase IIa clinical study conducted at Khon Kaen University Medical Center in Thailand which reported 5 of 15 advanced liver cancer subjects surviving over 1 year, 3 of 15 surviving over two years and two subjects with a complete response. This compared favorably to historical controls of Asian patients surviving a median of only 4.2 months. It is our hope that the ALIVE trial will provide evidence of a statistically significant extension of survival, while maintaining quality of life, and from such evidence obtain regulatory clearance in order to provide patients in the region with hope based on a wonderful new treatment option.”

 

The ALIVE trial is evaluating Mirror Biologics’s experimental AlloStim® immunotherapy in Asian patients with advanced HCC (BCLC stage C) unable to access, or not eligible for, sorafenib first-line treatment and without any other prior treatment. 180 subjects at 9 academic and private medical center sites located in Thailand and Malaysia will be randomized 2:1 to AlloStim® immunotherapy vs Physician’s Choice of palliative chemotherapy (FOLFOX4) plus best supportive care or best supportive care alone.

“We are excited to have closed this latest financing round, which brings Mirror Biologics additional capital as we continue to advance our clinical trial programs,” said Adi Raviv, Mirror Biologics’s Chairman and Chief Executive Officer. “We welcome Bradbury Group that invested $10 million to lead this round as well as our other new investors, alongside current investors, which participated in this financing. In addition, with this funding we plan to hire additional C-level management, accelerate patient accruals, ramp up our GMP manufacturing capacity and continue to make preparations for additional capital raises in 2022. We appreciate the continued support of all of our dedicated and passionate investors who share our mission of developing innovative biological drug products and treatment protocols which harness the power of the human immune system to provide patients with cost effective, accessible and easy to administer, improved quality of life and curative or life-extending treatment options.”

 

To join the growing Mirror Biologics family, please send CV in English to: info AT mirrorbio.com

For more information on Mirror Biologics, visit: www.mirrorbio.com

Source: PR.com newswire

About JLM-BioCity

News on the many life science and healthcare companies in the Jerusalem area can be seen at https://jlm-biocity.org/jlm-biocity-innovations/. Join the JLM-BioCity linkedin group at https://www.linkedin.com/groups/7060787 to get the news updates sent to you and to be part of the JLM-BioCity community.

JLM-BioCity is a non-profit organization focused on developing and excelling Jerusalem’s bio-community.

We invite you, researcher, professional, investor, and executive to become part of our vision, in building Jerusalem’s Biomed eco-system.

If you want your company featured in our blogs, news releases, please contact: info AT jlm-biocity.org