Mass High Tech - April 14, 2009

BioVex begins Phase 3 melanoma drug trial
Mass High Tech

BioVex Inc., a Woburn-based developer of cancer and infectious disease drugs and vaccines, has begun its U.S. OPTiM Phase 3 study of OncoVEX in treating metastatic melanoma. The company said it will begin recruiting in the U.K., Germany and Australia for studies that will begin later in the year.

OPTiM (OncoVE Pivotal Trial in Melanoma) consists of a randomized Phase 3 study to determine the safety and efficacy of the treatment in 360 patients who have received previous treatment for Stage 3 and Stage 4 melanoma. Of the 360 patients, 240 will receive OncoVEX and 120 will receive the control.

Following BioVex’s Phase 2 trial of OncoVEX, 74 percent of the patients showed progress in using the drug treatment.

BioVex announced last month that it had pulled in $40 million in its first close on a Series F funding round. At the time, the company said it was planning to raise an additional $20 million to prepare a Biologicals License Application filing for OncoVEX. Forbion Capital Partners led the $40 million financing, with supporting investment from Credit Agricole Private Equity, Harris & Harris Group, Innoven Partners, New Science Ventures, Triathlon Medical Venture Partners and Scottish Equity Partners.