1. Medvio Eurasia
Legal entity in the form of “OOO” (Ltd.), Moscow, Russia
Oct 12
2012
Project Stage Developing DendriVax, a new-generation dendritic cell therapy for hormone-
refractory prostate cancer and other solid tumors.
Stage 1
(to do: synthesis, plan of trials)
Stage 2
(to do: preclinical trials; safety, toxicity,
The Market
pharmacokinetics, pharmacodynamics) Prostate cancer is the most common cancer in men and the second leading cancer-
Stage 3 related death cause behind lung cancer. The number of men living with drug-treatable
(to do: clinical trials)
prostate cancer will increase from 2.8 million in 2010 to 4.3 million in 2025. According to
Decision Resources, the market will grow to more than $9B in 2020 in the US, France,
Germany, Italy, Spain, UK and Japan (driven by new high-priced therapies). Main
competitors include Provenge by Dendreon, first FDA-approved therapeutic cancer
Skolkovo Status vaccine for prostate cancer; Zytiga (aberaterone), novel testosterone inhibitor; and
Cluster BioMedical
Xtandi (enzalutamide), novel androgen receptor inhibitor.
Foresights
(priority R&D
4.9 Anticancer diagnostics
and therapeutics The Company
4.6 Products targeting the
directions)
immune system
Project/Technology
Medvio Eurasia brings new dendritic cell-based (DC-based) anticancer therapy
Grant
Financing
Grant application for $1M is
being developed DendriVax to the Russian market. The treatment method is based on R&D results
received by the US part of the team (Benjamin Tjoa and William Cavanagh) and will be
marketed in Russia with the support from medical research institutes (i.e., Petrov Inst. of
Oncology, Inst. of Urology and Russian National Research Medical Univ.). DendriVax
stimulates patient's own immune system. It consists of 2 components – the therapeutic
Market component and novel adjuvant. First, the adjuvant is injected near the tumor site 5-7
$4B (global)
Target Market size days prior to tumor ablation (done with the use of Cryo or Radiofrequency methods).
$.2B (Russia)
Second, after the ablation, the adjuvant is injected again followed by the injection of the
Hormone-refractory
Target Market prostate cancer therapeutic component. Strong immune response to cancer cells results in the
treatment regression of the primary tumor and metastases. The key distinguishing features of the
approach are 1) Injection of naïve autologous DCs (instead of matured), 2) Their in situ
maturation in the ablation site with a number of tumor antigens (instead of in vitro
maturation with 1-2 antigens), and 3) Injection of allogeneic matured dendritic cells as
adjuvant.
Financials
Proven advantages of the technology over main competitors
$M 2010 11 12* 13*
Revenues - - - -
Low toxicity and minor side effects (fatigue, perspiration, temporary bone pain that are
Net Income - - - - considered signs of the developing immune response) of the base technology were
Net Cash Flow - - - .8 shown in pilot clinical trial in USA and Philippines. Lower costs due to lack of expensive
synthetic antigens. Method can be universally applied for treatment of any ablatable
Tangible Assets - - - -
solid tumor.
* forecast
Expected advantages of the technology over main competitors
Proof of concept done. During next 1-1.5 years Medvio Eurasia plans to establish the
cell component manufacturing in St. Petersburg, Russia, and do clinical trials on 30-50
Patents patients with the market approval and sales to follow. Further project development might
focus on establishing the manufacturing site in Moscow.
Received -
Pending 1 (Russia) Current R&D Status
PCT 1 (pending) Proof of concept done. Safety shown in a pilot clinical study in Philippines. Medvio
Eurasia’s plans for the next 1-1.5 years include establishing the vaccine manufacturing
in Saint-Petersburg and doing clinical trials on 30-50 patients with the market approval
and sales start to follow. Further project development might focus on establishing the
vaccine manufacturing in Moscow.
Funding background
Financing Round Round A
Intellectual Property
Invested to-date $.07M
Russian patent pending for methods of in situ DC injection and use of allogeneic DCs as
Expected pre-money
immunostimulatory adjuvant. Methods of producing DCs are protected as know-how.
$3.3M
valuation
Funding Needs, Team
$.3M Dr. Oleg Egorov, CEO. Seven years of experience as R&D Director of IsoRay Medical
current round
Expected share of minority
Inc. (US) and Bebig (Russia). M.S. in Radiochemistry from Lomonosov Moscow State
the investor Univ.; Ph.D. in Analytical Chemistry from the Univ. of Washington. Dr. Baldueva Irina,
Chief Researcher, Dr. of Medical Sc., Assistant Prof. at Petrov Research Inst. of
Oncology. M.D. from Leningrad Medical Inst. for Hygiene and Sanitation. Dr. Benjamin
Tjoa, Scientific Advisor. Lead Scientist at Bostwick Therapeutics, Seattle, WA. Ph. D.,
Molecular and Cellular Immunology, from Univ. of Illinois. William Cavanagh, Cell
Contact details Technology Scientific Advisor. VP of R&D at IsoRay Medical, Inc. (US).
Skolkovo
Investment
Office
Ed Kanalosh,
+7 (495) 967-0148,
ekanalosh@sk.ru
Investment Opportunity
Andrey Afanasiev, Project M, Seeking $2M structured as $.3 equity investment, $.8M equity investment from RVC
Medvio
Eurasia
+7 (926) 369-3426; Seed Fund and $1M Skolkovo grant (application being prepared) to establish the
andrei.afanasiev@gmail.com
manufacturing site (only validation required), do clinical trials, and receive the market
approval in Russia. The company might consider simplifying the investor structure.