Mirror Biologics, Inc., a clinical-stage biopharmaceutical company today announced the completion of the final $20 million tranche of its $30 million Series A investment round with Hong-based Bradbury Asset Management Limited. Bradbury provided an initial $10 million tranche for this round in December 2021. Keith Loo (Loo See Yuen), the CEO of the Bradbury Group, has also now joined as a member of the Board of Directors.
Mirror Biologics is producing AlloStim®, a patented, non-genetically engineered, off-the-shelf living immune cell immunotherapy vaccine derived from normal blood donors for cancer and infectious disease treatment and prevention in the USA and SE Asia. AlloStim® is currently being evaluated in a Phase IIB pre-registration study in chemotherapy and immunotherapy-refractory metastatic colorectal cancer in the USA and in Phase II/III randomized, controlled study in advanced, metastatic liver cancer in SE Asia. In addition, under a separate IND, AlloStim® is being evaluated in Phase I/II clinical study in healthy adults over 65 yo as a universal anti-respiratory viral vaccine in the USA.
“I believe that Mirror Biologics has developed a novel immunotherapy approach, with an ‘off-the-shelf’, non-genetically manipulated, living cell therapy that has the potential to become a standard of care for metastatic cancers, as well as a novel immunomodulatory approach for protecting the elderly against viral infections and disease associated with an aging immune system,” stated Xiangfei “Scott” Cheng M.D, Ph.D., Director of Immunology and Laboratory Services at Thermo Fisher Scientific and newly recruited Mirror Senior Vice President of Translational Medicine.
The proceeds from this Series A round are targeted to assist in the planned transition from a research and early clinical development stage to late clinical development and pre-commercial stage biopharmaceutical company. As part of this planned transition, these new funds will support completing the recruitment of their C-suite and senior management leadership team and the expansion of their clinical trial programs worldwide.
These funds are also planned to provide support for the expansion of their GMP manufacturing capacity in Jerusalem and the establishment of an in-house Clinical Research Center and state-of-the-art R&D and bioengineering labs, including a BSL3 viral research lab (specially designed lab to create a safe environment, both within and outside the laboratory, for work conducted with infectious agents and toxins) in Tampa, Florida.
Acting CEO and Founder, Dr. Michael Har-Noy stated, “We are grateful for the continued support and strong partnership established with Keith Loo and the Bradbury Asset Management team. Bradbury shares our vision of creating affordable and accessible next-generation immunotherapy for patients suffering from refractory metastatic cancer and protecting the elderly from the serious effects of respiratory viral infections. With the closing of this Series A round, we now have a strong foundation upon which to establish the facilities and recruit the human capital necessary to advance our clinical and manufacturing operational capabilities for execution of registration clinical trials, and for making advanced preparations to scale-up these operations to commercial-scale.”
In August, Mirror Biologics, Inc. announced the appointments of Dr. Michael Kauffman, Mr. Gregory Schiffman, and Dr. Taneli Jouhikainen as independent, non-executive members of the Board of Directors. These new directors bring a wealth of experience in the management of drug development programs and will provide the expertise in strategic, organizational, and operational planning in support of Mirror Biologics’ efforts to advance its lead AlloStim® immunotherapy product candidate.
Keith Loo, CEO of Bradbury Asset Management (Hong Kong) Limited stated: “We have been impressed with the progress made in advancing the clinical and manufacturing programs and with the talent and dedication of the Mirror Biologics team since our initial $10 million investment in December 2021. We believe the novel Mirror Effect technology has the potential to be the foundation for the development of a fully integrated international biopharmaceutical company that can provide novel treatments and services for patients suffering from advanced diseases and to provide immune support to protect against the deterioration of the quality of life as we age. We are proud to continue to support Mirror Biologics with this additional $20 million investment to close out this Series A round and are dedicated to continued support and long-term partnership where we can together realize the vision of the company.”
In September, Dr. Elena Fingerut was appointed as General Manager of Mirror Biologics, Ltd., Mirror Biologic’s wholly-owned Israel subsidiary. Dr. Fingerut has dedicated over 16 years of her career to Mirror Biologic’ predecessor company, Immunovative Therapies, and has been with Mirror Biologics Ltd. since its inception in January 2021 with senior roles in research and development and quality control.
About Mirror Biologics, Inc.
Mirror Biologics, Inc. is a private Delaware corporation incorporated on November 5th, 2018 with headquarters in Tampa, Florida, and with operations in Jerusalem, Israel, Bangkok, Thailand, and Kuala Lumpur, Malaysia. Their lead AlloStim® product candidate is an “off-the-shelf,” non-genetically manipulated, disease agnostic, patented, living immune cell derived from healthy blood donors. Mirror Biologics, Inc. specializes in the discovery, clinical testing, and manufacturing of next-generation therapeutic and prophylactic immunotherapy vaccine products which incorporate living immune cells as active ingredients. Mirror Biologics, Inc. is driven by compassion for patients suffering from incurable diseases and highly toxic therapies to provide non-toxic, affordable alternative immunotherapy treatment options with a curative or life-extending activity that can be made widely accessible and capable of distribution to out-patient clinics in both urban and rural areas worldwide.
About Bradbury Group
Bradbury Group, the holding company of Bradbury Asset Management (Hong Kong) Limited, is a comprehensive financial institution consisting of several licensed professional entities that specialize in offering international securities brokerage, asset management, investment funds, and wealth management services to sophisticated investors globally. The Head office is in Hong Kong, with operations in Singapore, Malaysia, China, Taiwan, Indonesia, and the Cayman Islands. The private equity group portfolios span various industries including healthcare, capital markets, real estate development, green technology, and AI technology.
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