BeneVir Biopharm, Inc., a biotechnology company developing a pipeline of cancer immunotherapies, today announced it closed a Series A investment round with Pansend, LLC, an indirect wholly owned subsidiary of HC2 Holdings, Inc. (OTCQB: HCHC).
BeneVir’s core technology was licensed from New York University (NYU) and originally developed by Ian J. Mohr, Ph.D., NYU Langone Medical Center.
Rockville, MD, November 19, 2014 – BeneVir BioPharm, Inc. today announced it closed a Series A investment round with Pansend, LLC, an indirect wholly owned subsidiary of HC2 Holdings, Inc. (OTCQB: HCHC). BeneVir’s core technology was licensed from New York University (NYU) and originally developed by Ian J. Mohr, Ph.D., NYU Langone Medical Center.
BeneVir used this core technology to develop a pipeline of cancer immunotherapy drug candidates that affect antigen presentation in both tumor cells and antigen presenting cells. BeneVir’s pipeline consists of oncolytic viruses delivered locally or systemically. Once inside tumors, the viruses selectively destroy cancer cells, evade elimination by the immune system, and activate multiple classes of anti-tumor immune cells. This multi-mechanistic approach builds upon key elements of both oncolytic virus and immune-checkpoint inhibitor approaches to cancer treatment and is designed to block the major methods that tumors use to subvert the immune system. Proceeds of the financing will be used to conduct initial proof- of-concept clinical studies of BeneVir’s lead product, further develop the pipeline, and establish partnerships to test promising combination therapies in a diverse set of metastatic solid tumors.
Thomas Kucharski (IEDC) – Ethan Byler (BHI) – William C. Sproull (IEDC)
BioHealth Innovation, Inc. (BHI) was selected as an International Economic Development Council (IEDC) Excellence in Economic Development Silver Award recipient. BHI is receiving the award in the Public-Private Partnerships category for its work to assemblethe partnership that sponsored DreamIt Health IT Baltimore accelerator program. The award, which recognizes outstanding and innovative development projects that have significantly enhanced the economic revitalization of distressed communities, states, or regions, was formally presented to BHI on Monday, October 20, during the 2014 IEDC Annual Conference in Fort Worth, TX.
“BHI is honored to be acknowledged with this award for our work with DreamIt Health in support of the DreamIt Health Baltimore program in 2014,” said Richard Bendis, BHI President & CEO. “This reinforces the dedication to entrepreneurship and innovation in the biohealth arena that we are constantly striving for in Central Maryland.”
Vheda Health, a digital health company that seeks to help people with chronic conditions, is one of a handful of healthcare startups that have received backing from a commercialization fund from Maryland’s Technology Development Corp. They were part of a list of 15 companies that received $1.5 million. It follows a funding allocation from earlier this year.
Mobile Internet companies raked in a total of $19.2 billion in new investment over the last year, more than double the previous period, according to investment advisory firm Digi-Capital.
The big winner? Mobile commerce, with $4.2