Oxford University vaccine firm celebrates $500K investment

Share An Oxford University cancer firm is celebrating a $500K investment from one of its shareholders, which will allow it to continue its research. Dr Tony Coombs, chair of Oxford Vacmedix UK Limited, a company based at Oxford Science Park, said he was "very pleased" at the cash injection from the firm's second-largest shareholder. He said: "This timely intervention means that Oxford Vacmedix remains solvent and can meet all liabilities as they fall due. All staff remain employed." READ MORE: Oxford HMO property with licence for 16 listed for £1.45 million sale The news came prior to a scheduled shareholders and creditors meeting on September 1 at which the future of the Oxford University spinout was to be discussed. The investment has made that meeting unnecessary, allowing the firm to continue with its work. Dr Coombs explained: "Oxford Vacmedix is a spin-out company from the University of Oxford University that was set up to develop therapeutic agents for the treatment of cancer, based on the invention of Professor Shisong Jiang in the Department of Oncology. "The new technology is called Recombinant Overlapping Peptides (ROPs). "The technology is a novel way to deliver immunotherapy which is now a major focus in the treatment of cancer, making it easier to deliver, more effective and much more economical. Dr Tony Coombs , Chairman Oxford Vacmedix (Image: Oxford Vacmedix) "Immunotherapy is effective by activating the immune system to attack tumours directly thus reducing the need for invasive treatments such as chemotherapy and radiotherapy." The company was set up in September 2012, and started pre-clinical development in March 2018, following an investment of $12.5m USD. Clinical trials began in 2021 with more money invested in November 2024. Its lead immunotherapy, OVM-200, has now completed Phase 1 clinical trials in the UK and aims to treat patients with non small cell lung cancer, ovarian cancer and prostate cancer. According to its website, results show an excellent safety profile, a strong dual mode of action immune response and some early indications of effectiveness. Mr Coombs added: "OVM-200 has completed a Phase 1 trial in patients with advanced cancers. This is the first time the ROP technology has been used in people. READ MORE: Councillor speaks out amid plan to convert former Oxfordshire church "The results show excellent safety and an exceptionally strong immune response and, importantly, some early observations of clinical efficacy." On future funding, the chair of the company, said that they have "several promising leads", with it taking on average between 10 and 15 years for a new drug to go from initial laboratory testing to actual patient use in the UK. He said: "The team looks forward to continuing with the clinical development of the portfolio, following on from the very successful results of the Phase 1 trial of our lead cancer immunotherapy, OVM-200."Share Get involved with the news