ROCHESTER, Minn., May 17, 2022
/PRNewswire/ -- Vyriad, Inc., a clinical-stage biotechnology
company developing oncolytic virus therapies to treat a wide range
of cancers, today announced $29.5M in
new funding led by Mr. Harry Stine
of Stine Seed Farms, Inc. with participation from existing
investors. Stine Seed Farms joins Mayo Clinic, Mirae Asset,
Regeneron Pharmaceuticals Inc., Southeast Minnesota Capital Fund
(SMCF), and several high-net-worth individuals on the Vyriad
investment roster. This round adds to a prior closing for Vyriad's
Series B round and brings total funds raised by Vyriad since 2015
to over $100M.
![Vyriad, Inc. Logo (PRNewsfoto/Vyriad, Inc.) Vyriad, Inc. Logo (PRNewsfoto/Vyriad, Inc.)](https://mma.prnewswire.com/media/1600256/Vyriad_Logo.jpg)
"In my initial discussions with Mr. Stine, I was amazed to learn
that Vyriad's approach for developing safe, effective,
cancer-targeted oncolytic viruses closely mirrors the Stine Seed
model of high throughput screening, selection and commercialization
of novel soybean and corn strains," observed Vyriad Co-Founder and
CEO, Dr. Stephen Russell.
"Leveraging these approaches, Vyriad aspires to become a powerhouse
for the generation and partnered commercialization of high
performing safety-modified oncolytic viruses that, used alone or in
combination with established therapies, can eliminate cancer
without significant off-target effects or untoward toxicities."
Dr. James Hampton, Professor
Emeritus at Buena Vista University and
leading genetics and genomics expert, has joined Vyriad's Board of
Directors in conjunction with the financing. Dr. Hampton
commented, "Based on its unique technology platforms, broad patent
coverage, and data driven approach to developing superior
genotypes, Vyriad displays striking similarities to the approach I
have seen Mr. Stine deploy in developing the world's premier
agricultural germplasm. The high throughput genetics model
that has worked so well in feeding the world, will be equally
successful in developing oncolytic virus therapies that offer novel
and effective treatments for cancer."
About Stine Seed Farms, Inc.
Stine Seed Farm, Inc., founded by
Harry H. Stine
and headquartered near Adel, Iowa, is focused on developing and
marketing the world's best-performing corn and soybean seed through
its retail arm, Stine Seed Company. Stine
Seed Farm, Inc., operates the industry's largest corn and
soybean breeding and development programs, advancing and testing
nearly 1 million unique soybean varieties and more than 100,000
preliminary corn hybrids annually. For nearly five decades, Stine's
soybean research program has been regarded as the soybean genetics
supplier of choice to the seed industry.
About Vyriad, Inc.
Vyriad is a clinical-stage company
developing oncolytic virus therapies for the treatment of cancers.
Founded by scientists at Mayo Clinic and the University of Miami, Vyriad is currently working
with various virus platforms, programming them to selectively kill
cancer cells and ignite antitumor immune responses to complete and
sustain the process of tumor destruction. In 2019 Vyriad and
Regeneron (NASDAQ: REGN) established a broad-based strategic
agreement to discover and develop new oncolytic virus treatments
that leverage Vyriad's vesicular stomatitis virus (VSV) platform,
as well as Regeneron's unmatched antibody discovery capabilities.
Vyriad's lead clinical stage VSV asset, Voyager-V1, is being
evaluated in ongoing Phase 1-2 clinical trials addressing multiple
cancer types, alone or in combination with Regeneron's PD-1
inhibitor Libtayo® (cemiplimab-rwlc).
Vyriad is privately held and based in Rochester, Minnesota. Its 25,000 square
foot facility on the Rochester Technology Center campus includes
offices, state of the art research laboratories, a GMP
manufacturing facility and support systems for multicenter
oncolytic virus therapy clinical trials. For more
information, visit www.vyriad.com.
Contacts:
Media
Relations:
mediarelations@vyriad.com
Investor Relations:
Barb
Duckett
(507) 289-0944
bduckett@vyriad.com
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SOURCE Vyriad, Inc.