Primmune Therapeutics Receives $8.4 Million in Second Tranche of Series A Financing
SAN DIEGO, November 4, 2021 – Primmune Therapeutics today announced that it has received $8.4 million in a second tranche of the Company’s Series A financing. The total proceeds for the equity raised in the Series A was $31.4 million. These funds will be used to support the further clinical development of PRTX007 as a TherAjuvant™ for acute viral diseases, pre-cancerous lesions, and advanced cancer. PRTX007 is a novel orally-administered, small molecule toll-like receptor 7 (TLR7) agonist that has both therapeutic and adjuvant properties.
“Given the initial results from our Phase 1 study in healthy volunteers, we achieved our target clinical milestone that triggered a second tranche of $8.4 million from our existing investors. These funds will be used to set the stage for Primmune’s expansion into multiple definitive efficacy studies,” said Charlie McDermott, Chairman and Chief Executive Officer of Primmune Therapeutics. “In 2022, we intend to study PRTX007 in ambulatory respiratory syncytial virus (RSV), outpatient SARS-CoV-2, human papilloma virus (HPV) driven high-grade squamous intraepithelial lesions (HSIL) of the cervix, and in the neo-adjuvant setting in combination with checkpoint inhibitors in advanced cancer.”
Primmune Therapeutics coined the term TherAjuvants™ to reference its lead candidate PRTX007, a toll-like receptor 7 (TLR7) agonist with a combination of therapeutic and adjuvant mechanisms of action. PRTX007 is designed to provide immediate benefit to patients through controlled stimulation of the innate immune response while also potentiating long-term effective innate and adaptive immune responses. PRTX007 uniquely engages TLR7 and targeted immune cells without exacerbating inflammation, a critical feature in treating respiratory viral infections. TherAjuvants™ differ from therapeutic vaccines in that the source of the antigens presented to the patient’s immune system come from the treated pathology. Additionally, TherAjuvants™ differ from most small molecule approaches in that they target the patient’s immune system and not tumor cells or virally encoded targets.
About Primmune Therapeutics
Primmune Therapeutics is harnessing the power of the innate immune system to develop small molecule, orally-administered toll-like receptor 7 (TLR7) agonists as immunotherapies as TherAjuvants™ for the treatment of viral diseases and cancers. For more information, please visit https://www.primmunerx.com.