October, 2011 -VCNBiosciences and Genoma España closed last June an agreement which provides VCN Biosciences additional funding for the development of its portfolio of products for the treatment of cancers resistant to chemotherapy.
The operation stipulates that Genoma España will invest 280.000€ in the biotech company in the framework of a Cartera Tecnológica contract. VCN-01 is the most advanced candidate from VCN Biosciences. This product is a lead virotherapeutic candidate that the company is developing for the treatment of pancreatic cancer, one of the most aggressive and mortal tumor types. Virotherapy is a therapeutic approach for cancer treatment based on the use of viruses that are able to replicate and lyse selectively tumor cells (oncolytic viruses).VCN is planning to initiate the clinical program with VCN-01 by intravenous and intratumoral administration in exocrine pancreatic cancer at the beginning of 2013. On June 2011, VCN Biosciences has obtained the Orphan Drug designation for VCN-01 in the indication of treatment of pancreatic cancer, by the Committee for Orphan Medicinal Products (COMP) from European medicines Agency (EMA). In addition a second candidate, VCN-02, is currently been developed. Funding obtained from Genoma España will speed the pathway of both products to the clinics.VCN Biosciences SL is a private-owned company focused in the development of new therapeutic approaches for tumors that lack effective treatment.VCN Biosciences develops its new candidates from its design, preclinical studies, and early efficacy studies in humans (Phase I and II clinical trials). After having closed a first round of funding with the signature of the contract with Genoma España, VCN Biosciences is planning a second investment round by the ending of 2011.