Oxford Biomedica plans TroVax phase 3 trial, to raise additional £20 million to £30 million

By Angela McDaniels

Seattle, Nov. 2 - Oxford BioMedica said it plans to initiate a phase 3 trial of its cancer immunotherapy TroVax in renal cell carcinoma during 2006.

TroVax has the potential to be used for the treatment of most solid tumors, targeting a market that currently exceeds $15 billion, the company said.

Oxford said it will request a special protocol assessment of the trial from the U.S. Food and Drug Administration, which will enable the company and the FDA to reach written agreement on the design and size of the study necessary to achieve approval of TroVax as a treatment for renal cell carcinoma.

TroVax, which has already been the subject of a sponsored trial by Cancer Research UK and a planned trial by the U.S. National Cancer Institute, is being discussed with potential commercial partners, the company said.

The company is meeting with institutional investors to strengthening its financial position by raising an additional £20 million to £30 million.

Raising new funds to begin the trial will maximize value from a commercial partnership, as it allows the company to complete its negotiations from a position of greater financial strength, Oxford BioMedica said.

Oxford BioMedica is a biopharmaceutical company based in Oxford, England, that develops gene-based therapeutics with a focus on the areas of oncology and neurotherapy.

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