Mirror Biologics, Inc. Announces Close of a $14 Million Financing Round
This Funding will be Used, in Part, to Launch an Asian Phase II/III Randomized Controlled Registration Trial for Advanced Liver Cancer in Q1/2-2022.
Tampa, FL, December 09, 2021 --(PR.com)-- Mirror Biologics, Inc., a clinical stage immunotherapy company specializing in the development, manufacturing, commercialization and clinical translation of next generation therapeutic in-situ vaccines for cancer and infectious diseases, announced today the close of a $14 million private equity round led by Bradbury Asset Management, a Hong Kong-based asset management company. The proceeds of the financing will advance the company’s clinical development programs, including a Phase IIb pre-registration clinical trial in metastatic colorectal cancer, a Phase I/II universal respiratory viral vaccine and will enable the launch of the “ALIVE” Phase II/III randomized, controlled clinical trial for Asian subjects with advanced, treatment-naïve, liver cancer. The ALIVE trial is expected to begin in late Q1-2022/early Q2-2022 in Malaysia and Thailand.
Keith Loo, the CEO of the Bradbury Group, said that “we are excited to be investing in Mirror Biologics, Inc. and support the advancement of its experimental drug AlloStim®. We believe that the drug, based on the Mirror Effect® technology, will create an 'off the shelf', non-toxic, effective and affordable treatment for cancer and infectious diseases that can be delivered in an out-patient setting. The focus on liver cancer in Asia is highly needed as this disease is endemic in the region. We were particularly impressed with the results of a prior Phase IIa clinical study conducted at Khon Kaen University Medical Center in Thailand which reported 5 of 15 advanced liver cancer subjects surviving over 1 year, 3 of 15 surviving over two years and two subjects with a complete response. This compared favorably to historical controls of Asian patients surviving a median of only 4.2 months. It is our hope that the ALIVE trial will provide evidence of a statistically significant extension of survival, while maintaining quality of life, and from such evidence obtain regulatory clearance in order to provide patients in the region with hope based on a wonderful new treatment option.”
The ALIVE trial is evaluating the Company’s experimental AlloStim® immunotherapy in Asian patients with advanced HCC (BCLC stage C) unable to access, or not eligible for, sorafenib first line treatment and without any other prior treatment. 180 subjects at 9 academic and private medical center sites located in Thailand and Malaysia will be randomized 2:1 to AlloStim® immunotherapy vs Physician's Choice of palliative chemotherapy (FOLFOX4) plus best supportive care or best supportive care alone.
“We are excited to have closed this latest financing round, which brings Mirror additional capital as we continue to advance our clinical trial programs,” said Adi Raviv, Mirror’s Chairman and Chief Executive Officer. “We welcome Bradbury Group that invested $10 million to lead this round as well as our other new investors, alongside current investors, which participated in this financing. In addition, with this funding we plan to hire additional C-level management, accelerate patient accruals, ramp up our GMP manufacturing capacity. We appreciate the continued support of all of our dedicated and passionate shareholders who share our mission of developing innovative biological drug products and treatment protocols which harness the power of the human immune system to provide patients with cost effective, accessible and easy to administer, improved quality of life and curative or life-extending treatment options.”
About Mirror Biologics
Mirror Biologics is a clinical stage immunotherapy company specializing in the development, manufacturing and clinical translation of next generation therapeutic in-situ vaccines for cancer and infectious diseases. This international biopharmaceutical company was founded in 2019 and is headquartered in Tampa, Florida where it conducts advanced bioengineering research and development, is establishing a 21 CFR 1271-compliant blood donor and cell processing center, and a medical facility for the treatment of patients pursuant to FDA guidelines such as Expanded Access and Right to Try provisions. Mirror operates a GMP cell manufacturing facility in Jerusalem, Israel and has clinical and distribution partner offices in Bangkok, Thailand and Kuala Lumpur, Malaysia. The lead experimental drug, AlloStim®, is an “off-the-shelf,” non-genetically manipulated, patented, living immune cell differentiated from precursor cells purified from blood of healthy donors and formulated with monoclonal antibody-coated microparticles. Proprietary “artificial lymph node” bioreactors are being developed and are expected to enable the economical high cell density scale-up of AlloStim®. The Mirror Effect(R) technology platform and related applications are protected by over 200 worldwide patents.
For more information on Mirror Biologics technology, visit our website: www.mirrorbio.com
About Bradbury Group
Bradbury Group, the holding company of Bradbury Asset Management, is a comprehensive financial institution consisting of several licensed professional entities that specialize in offering international securities brokerage, asset management, investment funds and wealth management services to sophisticated investors globally. With its Head office in Hong Kong, their presence covers Singapore, Malaysia, China, Taiwan, Indonesia and the Cayman Islands. Their prime private equity portfolios span across various industries including capital markets, real estate development, green technology, e-commerce and healthcare.
For more information on Bradbury Group, visit website: www.bradburyam.com
Forward-Looking Statements
The information contained herein may contain "forward‐looking statements." Forward‐looking statements reflect the current view about future events. When used in this press release, the words "anticipate," "believe," "estimate," "expect," "future," "intend," "plan," or the negative of these terms and similar expressions, as they relate to us or our management, identify forward‐looking statements. Such statements include, but are not limited to, statements contained in this press release relating to the view of management of Mirror Biologics concerning its business strategy, future operating results and liquidity and capital resources outlook. Forward‐looking statements are based on the Company's current expectations and assumptions regarding its business, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. The Company's actual results may differ materially from those contemplated by the forward‐looking statements. They are neither statements of historical fact nor guarantees of assurance of future performance. We caution you therefore against relying on any of these forward‐looking statements. Factors or events that could cause the Company's actual results to differ may emerge from time to time, and it is not possible for the Company to predict all of them. The Company cannot guarantee future results, levels of activity, performance, or achievements. Except as required by applicable law, including the securities laws of the United States, the Company does not intend to update any of the forward‐looking statements to conform these statements to actual results.
Keith Loo, the CEO of the Bradbury Group, said that “we are excited to be investing in Mirror Biologics, Inc. and support the advancement of its experimental drug AlloStim®. We believe that the drug, based on the Mirror Effect® technology, will create an 'off the shelf', non-toxic, effective and affordable treatment for cancer and infectious diseases that can be delivered in an out-patient setting. The focus on liver cancer in Asia is highly needed as this disease is endemic in the region. We were particularly impressed with the results of a prior Phase IIa clinical study conducted at Khon Kaen University Medical Center in Thailand which reported 5 of 15 advanced liver cancer subjects surviving over 1 year, 3 of 15 surviving over two years and two subjects with a complete response. This compared favorably to historical controls of Asian patients surviving a median of only 4.2 months. It is our hope that the ALIVE trial will provide evidence of a statistically significant extension of survival, while maintaining quality of life, and from such evidence obtain regulatory clearance in order to provide patients in the region with hope based on a wonderful new treatment option.”
The ALIVE trial is evaluating the Company’s experimental AlloStim® immunotherapy in Asian patients with advanced HCC (BCLC stage C) unable to access, or not eligible for, sorafenib first line treatment and without any other prior treatment. 180 subjects at 9 academic and private medical center sites located in Thailand and Malaysia will be randomized 2:1 to AlloStim® immunotherapy vs Physician's Choice of palliative chemotherapy (FOLFOX4) plus best supportive care or best supportive care alone.
“We are excited to have closed this latest financing round, which brings Mirror additional capital as we continue to advance our clinical trial programs,” said Adi Raviv, Mirror’s Chairman and Chief Executive Officer. “We welcome Bradbury Group that invested $10 million to lead this round as well as our other new investors, alongside current investors, which participated in this financing. In addition, with this funding we plan to hire additional C-level management, accelerate patient accruals, ramp up our GMP manufacturing capacity. We appreciate the continued support of all of our dedicated and passionate shareholders who share our mission of developing innovative biological drug products and treatment protocols which harness the power of the human immune system to provide patients with cost effective, accessible and easy to administer, improved quality of life and curative or life-extending treatment options.”
About Mirror Biologics
Mirror Biologics is a clinical stage immunotherapy company specializing in the development, manufacturing and clinical translation of next generation therapeutic in-situ vaccines for cancer and infectious diseases. This international biopharmaceutical company was founded in 2019 and is headquartered in Tampa, Florida where it conducts advanced bioengineering research and development, is establishing a 21 CFR 1271-compliant blood donor and cell processing center, and a medical facility for the treatment of patients pursuant to FDA guidelines such as Expanded Access and Right to Try provisions. Mirror operates a GMP cell manufacturing facility in Jerusalem, Israel and has clinical and distribution partner offices in Bangkok, Thailand and Kuala Lumpur, Malaysia. The lead experimental drug, AlloStim®, is an “off-the-shelf,” non-genetically manipulated, patented, living immune cell differentiated from precursor cells purified from blood of healthy donors and formulated with monoclonal antibody-coated microparticles. Proprietary “artificial lymph node” bioreactors are being developed and are expected to enable the economical high cell density scale-up of AlloStim®. The Mirror Effect(R) technology platform and related applications are protected by over 200 worldwide patents.
For more information on Mirror Biologics technology, visit our website: www.mirrorbio.com
About Bradbury Group
Bradbury Group, the holding company of Bradbury Asset Management, is a comprehensive financial institution consisting of several licensed professional entities that specialize in offering international securities brokerage, asset management, investment funds and wealth management services to sophisticated investors globally. With its Head office in Hong Kong, their presence covers Singapore, Malaysia, China, Taiwan, Indonesia and the Cayman Islands. Their prime private equity portfolios span across various industries including capital markets, real estate development, green technology, e-commerce and healthcare.
For more information on Bradbury Group, visit website: www.bradburyam.com
Forward-Looking Statements
The information contained herein may contain "forward‐looking statements." Forward‐looking statements reflect the current view about future events. When used in this press release, the words "anticipate," "believe," "estimate," "expect," "future," "intend," "plan," or the negative of these terms and similar expressions, as they relate to us or our management, identify forward‐looking statements. Such statements include, but are not limited to, statements contained in this press release relating to the view of management of Mirror Biologics concerning its business strategy, future operating results and liquidity and capital resources outlook. Forward‐looking statements are based on the Company's current expectations and assumptions regarding its business, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. The Company's actual results may differ materially from those contemplated by the forward‐looking statements. They are neither statements of historical fact nor guarantees of assurance of future performance. We caution you therefore against relying on any of these forward‐looking statements. Factors or events that could cause the Company's actual results to differ may emerge from time to time, and it is not possible for the Company to predict all of them. The Company cannot guarantee future results, levels of activity, performance, or achievements. Except as required by applicable law, including the securities laws of the United States, the Company does not intend to update any of the forward‐looking statements to conform these statements to actual results.
Contact
Mirror Biologics, Inc.
Adi Raviv
619-227-4872
www.mirrorbio.com
Adi Raviv
619-227-4872
www.mirrorbio.com
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