SAN DIEGO -- (BUSINESS WIRE) -- Batu Biologics announced today that the company successfully rose over 50% of its crowdfunding target to assist in completion of preclinical studies to support the FDA submission of its novel cancer vaccine, ValloVax™. On June 18th, 2014 Batu Biologics announced the launch of its Indiegogo campaign seeking to raise $100,000, which can be viewed online at the following link: https://www.indiegogo.com/projects/emerging-lung-cancer-vaccine-targets-tumor-blood-vessels-introducing-vallovax
"We are enthusiastic at the flurry of support, which we attribute in part to the joining of UCSD cancer vaccine expert Dr. Boris Minev and industry veteran Dr. Alan Lewis to our scientific advisory board," said Samuel Wagner, President and CEO of Batu Biologics. "With 41 days left in the campaign, we are cautiously optimistic toward accomplishing our fundraising goal."
Batu Biologics is developing a lung cancer vaccine that induces an immune response specifically against blood vessels that feed the tumor. Efficacy at inhibiting lung cancer in mice in a nontoxic manner has been demonstrated. The company is raising money to secure clinical grade manufacturing and complete additional safety data required before IND submission to the FDA.
"To my knowledge this is the first time crowdfunding has been used by a biotechnology company to fund preclinical development," said Dimitri Theofilopoulos, Chief Operating Officer of Batu Biologics. "We are excited to pave the way using this innovative strategy and hope this will allow greater accessibility and opportunity for startup biotech companies in the future.”
About Batu Biologics
Founded in 2013, Batu Biologics is a preclinical biopharmaceutical company focusing on developing and commercializing allogeneic cell therapies in the area of immune modulation. The company’s products are centered around the idea of creating or breaking immune tolerance. The company is currently in the preclinical stages of drug development for its two flagship products: Immstem and Vallovax. With the recent successes of immunotherapy in a variety of tumors, Batu Biologics believes there is an increasing unmet need for non-toxic immune modulators that can augment efficacy of existing therapeutics. Our team is motivated to bring novel therapeutics to the forefront of medical research that use the power of the body’s own immune system to extend life expectancy. Batu Biologics has filed two provisional patents in the field of cancer immunotherapy and plans to significantly expand its IP in 2014.
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