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Immunophotonics Raises $21.4 Million in Equity Financing for Phase 2 Clinical Trials

ST. LOUIS, MISSOURI, AND BERN, SWITZERLAND, April 6, 2022 / -- Immunophotonics, Inc., a clinical-stage biotech company focused on the discovery and development of novel immune-activating drugs in oncology and infectious disease, continues to attract investments that will fund research and clinical trials regarding the use of the company’s lead drug candidate, IP-001. The latest financing tranche, which was raised through the sale of the company’s authorized Series B Preferred Stock, has yielded $21.4 million in investments and was led by new investors Zubizoom Investments LLC and ROVAQ Ventures, LLC, along with previous investors including Immune, LLC and iSelect Fund.

The new round of funding will allow Immunophotonics to continue to explore the ability of IP-001 to transform a routine interventional-oncology procedure called tumor ablation into a systemic immunotherapy against cancer. The capital is being used to transition Immunophotonics into Phase 2a clinical development in a variety of solid tumor indications and will fund non-clinical research both within and outside the field of oncology.

“We are grateful for our investors’ contributions, which include not only their delivery of capital that will continue to support our groundbreaking discovery but also the incredible knowledge and experience they bring to the table,” said Lu Alleruzzo, Co-Founder and CEO of Immunophotonics. He added, “This funding will allow us to bolster our clinical and non-clinical research while also expanding our clinical trials into additional countries and cancer indications. Moreover, it will accelerate development timelines intended to bring us closer to our ultimate goal of improving and extending the lives of cancer patients across the globe.”

The closing of this tranche of financing comes on the heels of several key milestones for Immunophotonics over the last two years. These include the successful completion of a Phase 1b clinical trial examining IP-001 in thermally ablated solid tumors, the award of a $2.4 million non-dilutive SBIR grant from the National Cancer Institute of the NIH; the granting of patents covering IP-001 in over 40 additional countries (including at the USPTO and the European Patent Office), and the appointment of additional world-class talent to the company’s board of directors. Immunophotonics has been featured in Nature Biopharma Dealmakers, and its academic research collaborators have published findings in numerous peer-reviewed journals, including Theranostics, the AACR’s Clinical Cancer Research, the International Journal of Molecular Sciences, and International Immunopharmacology.

About Immunophotonics
Immunophotonics, Inc. is a privately owned, clinical-stage biotech company pioneering the emerging field of Interventional Immuno-Oncology™. IP-001, the first asset from the company’s intellectual property platform, has the potential to transform a routine tumor ablation into a systemically active cancer immunotherapy in multiple solid tumor indications by activating a tumor-specific anticancer immune response. The company is in phase 2 development and is based in St. Louis, Missouri, USA with subsidiaries in Bern, Switzerland and Tianjin, China.

About IP-001
IP-001 is a proprietary glycan polymer that acts both as an antigen depot and a potent immune activator capable of stimulating immunological responses against cancer and infectious diseases. It is designed to 1) leverage tumor antigens liberated by ablation by prolonging their availability, 2) facilitate the recruitment and activation of innate immune cells such as antigen-presenting cells (APCs), 3) increase the uptake of the tumor antigens into the activated APCs, and 4) lead to a downstream adaptive immunity. Taken together, this ignites a systemic response from the adaptive immune system, which then seeks out and eliminates the identified targets throughout the body.

This press release contains forward-looking statements. Such statements — including statements regarding clinical trials, regulatory applications and related timelines, and timing for bringing any product candidate to market — involve inherent risks and uncertainties, and numerous factors could cause actual results to differ materially from those made or implied herein. All information provided in this press release is as of the date of this press release, and Immunophotonics, Inc. undertakes no duty to update such information, except as required under applicable law.

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Immunophotonics, Inc.
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