Continues to Advance Lead Antiviral Therapeutic EV25
WEST LAFAYETTE, Ind.--(BUSINESS WIRE)--Eradivir Inc., a clinical-stage biotechnology company that harnesses the power of the immune system to target and treat disease, today announced the recent closing of a $10 million private financing round. The investment will support continued clinical development of the company’s lead antiviral therapeutic for influenza, EV25, and advancement of a second molecule, EV148, for the treatment of respiratory syncytial virus (RSV).
A significant amount of the $10 million raised came from previous investors, reflecting their continued confidence in Eradivir’s platform and vision.
“The funding marks a pivotal moment for Eradivir as we prepare to share EV25 Phase 2a results and underscores the confidence investors have in our ability to build out our toolkit of small molecule immunotherapies,” said Martin Low, Chief Executive Officer of Eradivir. “We’ve minimized dilution by raising our first $30 million in milestone-based tranches. This disciplined financing strategy has preserved shareholder value while driving meaningful progress in our lead programs.”
The funds have been used to complete the EV25 Phase 2a influenza challenge study and will also support IND-enabling studies of Eradivir’s RSV development candidate, EV148. The results from the EV25 Phase 2a challenge study will be publicly released in the coming weeks.
EV25 and EV148 were built on Eradivir’s BAiT (Bispecific Antigenic immuno-Therapy) platform that combines the simplicity of small molecules with the efficacy of antibodies. The simplicity of the platform’s technology provides the opportunity to address multiple diseases, including additional viruses and cancer, by switching the targeting ligand to another that binds specifically to a pathological cell.
ABOUT ERADIVIR
Eradivir Inc. is a privately held, clinical-stage biotechnology company that focuses the power of the immune system to target and treat viral infections and other diseases. Its proprietary BAiT platform (Bispecific Antigenic immuno-Therapy) combines the simplicity of small molecule therapies with the efficacy of antibody therapies to facilitate rapid and selective diseased cell destruction. Eradivir’s lead antiviral therapeutic EV25 is currently in a Phase 2 challenge study for the treatment of influenza. For more information about the company and its latest news, visit www.eradivir.com.
Contacts
Media and Partner Contact
Martin Low
martin.low@eradivir.com
