NEW YORK, Oct. 21 /PRNewswire/ -- InvestBio Ventures -- The Vaccine Company, L.P., an InvestBio Ventures Partnership, announced today that it has raised $14 million of a planned $20 million investment in The Vaccine Company (TVC). This first stage of the investment in TVC was completed on October 17, 2005. InvestPrivate, Inc. acted as the placement agent for the offering.
TVC was formed in July 2003 to commercialize the PR1 vaccine that is being developed at the MD Anderson Cancer Center at The University of Texas. The funding will help The Vaccine Company initiate its pivotal Phase III clinical trial using the PR1 vaccine to treat patients with acute myelogenous leukemia (AML).
On September 19, 2005, The Vaccine Company received approval from the Department of Health and Human Services to begin its clinical trial in AML. TVC is expected to begin the Phase III study in AML in the first quarter of 2006. TVC also has announced plans to request approval to begin a Phase II clinical trial to treat MDS in the near future, pending completion of the Series C financing.
Said Scott Mathis, CEO and Chairman of InvestBio: “The Vaccine Company is a biotech company with significant potential. We’re thrilled that we were able to help lead the effort to secure this financing. This is an exciting deal on many fronts and embodies our philosophy of ‘Get Healthy, Get Wealthy,’ helping the advancement of leukemia research for patients and investors alike. We and our investors in the InvestBio Ventures-The Vaccine Company, L.P. fund are very proud of helping finance the clinical trials of what may be, if successful, a breakthrough in leukemia treatment.”
Ron Garren, M.D., Chairman and Founder of The Vaccine Company stated, “We are excited about the clinical potential of the PR1 vaccine and look forward to initiating the Phase III trial in AML.”
InvestBio Ventures is an operation of InvestBio, Inc, an organization that seeks to help investors and its customers capitalize on business and investment opportunities in the biotechnology sector.
InvestPrivate, Inc., a registered broker-dealer (member NASD, SIPC, SIA), under common control with InvestBio, Inc., served as the placement agent in connection with this investment.
About InvestPrivate:
InvestPrivate, Inc. (http://www.investprivate.com) (member NASD, SIPC, SIA), founded in 1999 and headquartered in New York, is a boutique investment brokerage firm that specializes in the biotechnology sector, offering access to venture capital, private equity investments and publicly traded securities.
InvestPrivate, Inc. is a holding of Diversified Biotech Holdings Corp. (DBHC), a diversified organization that seeks to help investors and its customers capitalize on business and investment opportunities in the biotechnology sector.
About InvestBio:
InvestBio, Inc. (http://www.investbio.com) serves as a central resource for biotech investors seeking unbiased information and access to investment opportunities. InvestBio, Inc. identifies, selects, structures and manages biotechnology-related venture capital, private equity and hedge fund investments for qualified individual accredited investors.
InvestBio, Inc. is a holding of Diversified Biotech Holdings Corp. (DBHC), a diversified organization based in New York City that seeks to help investors and its customers capitalize on business and investment opportunities in the biotechnology sector.
Important Notes:
The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements. This press release may contain certain statements of a forward-looking nature relating to future events or future business performance. Any such statements that refer to the Company’s estimated or anticipated future results or other non-historical facts are forward-looking and reflect the Company’s current perspective of existing trends and information. These statements involve risks and uncertainties that cannot be predicted or quantified and, consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. The forward-looking statements speak only as of the date of this release. The Company undertakes no obligation to update publicly any forward-looking statement, whether as a result of new information, future events or otherwise.
For more information, please contact Scott L. Mathis, InvestBio, Inc., at (212) 739-7676 or info@investbio.com.
1999 - 2005. InvestBio, Inc., a subsidiary of Diversified Biotech Holdings Corporation. This information is not intended for use without professional advice.
InvestPrivate/InvestBio
CONTACT: Scott L. Mathis of InvestBio, Inc., +1-212-739-7676,info@investbio.com
