Theriva Biologics Secures Funding for Innovative Cell Projects
Theriva Biologics Secures Funding to Advance Innovative Therapies
Theriva™ Biologics (NYSE American: TOVX), a pioneering clinical-stage company dedicated to innovative cancer therapeutics, has recently made headlines by winning grant funding from the National Knowledge Transfer Program of the Spanish government. This funding, totaling €2.28 million, is intended to spearhead a significant project in collaboration with Universitat Autònoma de Barcelona (UAB) aimed at enhancing Theriva's ground-breaking suspension cell platform used for manufacturing adenovirus and adeno-associated virus (AAV) therapies.
Details of the Funding Award
As part of the award, Theriva will receive a loan of €1.33 million, set to be disbursed as a lump sum in the fourth quarter, followed by a seven-year repayment period starting three years after the award date. In addition, UAB will benefit from a grant of €0.95 million, allocated in annual installments over the upcoming three years to further support the project.
The THERICEL Project: A Focus on Efficiency
The THERICEL project is designed to explore the feasibility of using Theriva's proprietary A549 suspension cell platform specifically for the clinical manufacture of adenoviral and AAV therapies. This innovative approach is expected to significantly boost manufacturing efficiency while lowering costs compared to traditional adherent cell platforms. Theriva plans to utilize this funding effectively to scale up the production of VCN-01, its leading oncolytic virus candidate presently in Phase 2b clinical trials for treating advanced pancreatic ductal adenocarcinoma (PDAC). Furthermore, researchers at UAB will assess the feasibility of this suspension cell line in producing AAV products for gene therapy applications.
Comments from Theriva's Leadership
Steven A. Shallcross, CEO of Theriva Biologics, expressed enthusiasm regarding the funding award, noting how it not only provides substantial financial support but also reinforces the credibility of their therapeutic strategy. “This funding will expedite the initiation of our innovative suspension cell platform, enhancing our position at the forefront of oncolytic virus development,” Shallcross stated. He also emphasized the significance of collaboration with UAB in striving to meet the pressing medical needs of patients.
About Theriva Biologics
Theriva™ Biologics is focused on developing therapeutic solutions for cancer and related diseases, addressing high unmet medical needs. Their unique oncolytic adenovirus platform is engineered for multiple methods of delivery, such as intravenous and intravitreal applications, with the goal of inducing tumor cell death and facilitating deeper penetration of co-administered cancer therapies. The company's primary candidates include VCN-01, designed to selectively target and destroy tumor cells, as well as SYN-004 and SYN-020, which aim to mitigate adverse effects from treatments and improve local gastrointestinal health.
Frequently Asked Questions
What is the significance of the THERICEL project?
The THERICEL project aims to improve the efficiency and cost of manufacturing viral therapies, potentially revolutionizing production methods in the biopharmaceutical industry.
How will the funding be used?
The funding will support scaling up Theriva’s innovative suspension cell platform to enhance the clinical manufacture of adenoviral and AAV therapies.
Who is collaborating with Theriva on this project?
Theriva is collaborating with the Universitat Autònoma de Barcelona (UAB) to further develop the suspension cell platform and conduct related research.
What are the key products in Theriva's pipeline?
Key products include VCN-01, an oncolytic adenovirus; SYN-004, designed to protect the microbiome; and SYN-020, aimed at treating gastrointestinal disorders.
When can we expect updates on the THERICEL project?
Updates will likely be shared as Theriva progresses with the project and initiates the scaling-up process, especially after the funding is allocated.
About Investors Hangout
Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/
Disclaimer: The content of this article is solely for general informational purposes only; it does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice; the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. The author's interpretation of publicly available data presented here; as a result, they should not be taken as advice to purchase, sell, or hold any securities mentioned or any other investments. If any of the material offered here is inaccurate, please contact us for corrections.