"We are delighted to have been awarded this loan from the MLSC," said Barbara S. Fox, Ph.D., Avaxia’s founder and CEO. "The support of the MLSC provides the funding we need to accelerate the development of our therapeutic programs and to advance the building of a strong intellectual property portfolio to support these drug products.”
Dr. Fox continued, “We are pleased that the MLSC has recognized the potential therapeutic opportunities our approach brings to areas of unmet medical needs and Avaxia welcomes this validation of our programs. The GI tract is a uniquely privileged space that has been previously inaccessible to monoclonal antibody therapy. Avaxia’s lead products are antibodies that are stable in the GI tract and are targeted at oral mucositis, inflammatory bowel disease, diabetes and obesity. We believe our approach will expand upon the proven utility of antibody therapeutics and open a new chapter in human therapeutics.”
About Avaxia Biologics, Inc.
Avaxia Biologics (www.avaxiabiologics.com) is a private, early stage company developing orally-delivered antibody therapeutics using a proprietary antibody platform. The company is pursuing products for oral mucositis, inflammatory bowel disease, and diabetes and obesity.
Avaxia’s lead product is a proprietary anti-TNF antibody to be administered to the oral cavity of patients suffering from mucositis. The antibody is designed to reduce the pain and ulceration associated with this serious side effect of cancer treatment. Avaxia is also developing a proprietary anti-TNF antibody to be administered orally to patients suffering from inflammatory bowel disease. Avaxia is also conducting discovery programs in the field of diabetes and obesity, targeting critical intestinal receptors associated with glucose metabolism.
The company has its corporate offices in Burlington, MA and its research laboratories in Watertown, MA.
About the Massachusetts Life Sciences Center
The Massachusetts Life Sciences Center (“the Center”) is a quasi-public agency of the Commonwealth of Massachusetts tasked with implementing the Massachusetts Life Sciences Act, a ten-year, $1 billion initiative that was signed into law in June of 2008. The Center’s mission is to create jobs in the life sciences and support vital scientific research that will improve the human condition. This work includes making financial investments in public and private institutions that are advancing life sciences research, development and commercialization as well as building ties between sectors of the Massachusetts life sciences community. For more information, visit www.masslifesciences.com
SOURCE: Avaxia Biologics, Inc. Barbara S. Fox, CEO. 1-508-259-5929
