Verlmmune has raised $2.5 million in a seed funding round led by SeedFolio to advance the Baltimore-born startup’s quest to develop broad-spectrum cancer therapies, principally by using a human’s normal or previously acquired immunity to attack tumors.
Other investors in the round include New York’s Gaingels, Mana Ventures, Ulu Ventures, Proxima VC and NuFund Venture group. The two-year-old biotech firm is based in Washington, D.C., after moving to Johnson & Johnson’s JLabs, but remains part of the so-called BioHealth Capital Region (BHCR) cluster around Maryland and Virginia.
Acquired Immunity as a Weapon
VerImmune is betting on so-called Anti-tumor Immune Redirection (AIR) — tapping normal human immunity or childhood vaccine immune memory to fight cancers. Toward this, it has built a virus-inspired particle (ViP) platform to tap the natural virology of papilloma viruses. The platform enables “systematic and rapid optimization”of immune structures and enhances targeting, according to VerImmune. The company’s approach has been validated by a peer-reviewed study by National Cancer Institute researchers who found that reactivated cytomegalovirus T-cells could be used to target non-viral tumors.
Joshua Wang, VerImmune’s chief executive, has acquired well-rounded knowledge across pathology, finance and entrepreneurship. He received a Ph.D. from Johns Hopkins, and brings deep knowledge of virology, vaccines and immunology. He also has studied and researched at London’s Imperial College and Harvard Business School, and lived and worked in Singapore and the United Kingdom.
In 2014, Wang first turned an entrepreneur by tapping his doctoral research program to start PathoVax, which seeks to identifying medical applications for its proprietary papilloma virus virus-like particle (VLP) platform. He started VerImmune in 2020 to bring similar approaches to cancer therapies.
VerImmune’s latest funding “reflects the global enthusiasm for VerImmune’s technology, management and plans to develop this potentially trans formative immuno-oncology treatment for all cancer patients,” Wang said after the seed round. The funding follows new collaborations with well-established global pharmaceutical companies earlier this year, he added.
JLabs Accelerates Innovation
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JLabsis a global life science network for innovation, providing startups with access to capital-efficient lab space and resources, including expertise, community, industry connections and entrepreneurial programs. The innovation hub is led by Global Head Melinda Richter. Richter was previously the founder and CEO of Prescience International, a startup that focused on accelerating commercial adoption of science and technology. She has global experience and has worked for companies such as Nortel Networks.
JLabs’ investments include Antiva Biosciences, Iconic Therapeutics, Pionyr Immunotherapeutics, PinPress, Qing Bile Therapeutics and Compass Therapeutics, Inc., which it exited.
SeedFolio, based in San Diego, Calif., is a seed-stage venture capital firm that focuses on two areas — conquering disease and cleaning the planet. It has so far raised two funds. The first made 21 portfolio investments. The second fund has made 19 so far, including VerImmune, Veckta, eGlintand Allotrope Medical.
