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NEW for December 2005 on the PERFECTDISPLAY
Latest Funding Funding By Industry (includes biotechnology, semiconductor, electronic
hardware and much more). Sorted by industry, by company and funding amount
MEDICAL TECHNOLOGY JOURNAL
September 15th, 2005
ViRexx Medical Corp. (TSX:VIR), has completed a private placement
of 4,035,665 units for gross proceeds of $4,035,665. ViRexx focuses its efforts on ovarian cancer, chronic hepatitis B and
hepatitis C and tumor treatments.
Marc Canton, President and COO of ViRexx commented on the financing,
"This transaction strengthens the Company's financial position as we prepare to initiate a Phase I safety study of HepaVaxx
B in healthy adults later this year, representing the fourth ongoing clinical trial from our pipeline of products. The HepaVaxx
B trial will build on our ongoing clinical development program which includes the Phase I Occlusin 50 Injection and the two
later stage OvaRex MAb trials, both of which are funded by our licensing partner, United Therapeutics Corporation."
ViRexx's lead product, OvaRex MAb, is planned for late-stage ovarian
cancer treatment. It is presently in Phase III clinical trial. Unither Pharmaceuticals, Inc., a subsidiary of United Therapeutics
Corporationis funding that trial.
A team of scientists from John Hopkins are to participate in
a project to develop a test to determine a person’s risk of developing colon cancer. The team, along with undisclosed
other scientists are to receive a $2.25 million, five-year grant from the Doris Duke Charitable Foundation for work on the
project.
The impetus for the test is a gene called insulin-like growth factor
2 (IGF-2). Studies have shown that there is a link to that gene and the development of colon cancer. One of the leaders
of the project, Andrew Feinberg, M.D., Ph.D., at Johns Hopkins explained further, "If everything works out -- if IGF-2 status
is tied to colon cancer risk in people and the blood test is workable -- then IGF-2 status could be the colon cancer equivalent
of cholesterol levels as a risk factor for heart disease. We've never had a broad molecular screening tool like that for any
cancer."
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