Vyriad Raises $29.5M in Series B Funding

Vyriad, RochesterMN-based company, clinical-stage biotechnology company, developed oncolytic viruses therapies to treat a wide variety of cancers. It raised $29.5M in Series B funding.

TheRound was led By Mr. Harry Stine of Stine Seed Farms, Inc. with participation from Mayo Clinic, Mirae Asset, Regeneron Pharmaceuticals, and Southeast Minnesota Capital Fund. In conjunction with the funding, Dr. James Hampton, Professor Emeritus at Buena Vista University and genetics and genomics expert, has joined Vyriad’s BoardOf Directors in conjunction with the financing. This round adds to a prior closing for Vyriad’s Series B round and brings total funds raised by Vyriad since 2015 to over $100M.

The company intends to use the funds to accelerate its development efforts.

Founded by scientists at Mayo Clinic and the University of Miami, led by CEO Dr. Stephen Russell, Vyriad is a clinical-stage company developing oncolytic virus therapies for the treatmentOf cancers. The company is currently working with various virus platforms, programming them to selectively kill cancer cells and ignite antitumor immune responses to complete and sustain the processOf tumor destruction. ItsAsset of VSV assets in the lead clinical stage Voyager-V1 is currently being evaluated inPermanent Phase1-2 clinical trials that address multiple cancer types. inCombination with Regeneron’s PD-1 inhibitor Libtayo® (cemiplimab-rwlc).

VyriadIt is privately owned and based in in Rochester, Minnesota.  ItsThe facility is 25,000 square feet Rochester Technology CenterThe campus contains offices, state-of-the-art research laboratories, GMP manufacturing facilities, and support systems for multicenter clinical trials of oncolytic virus therapy. 

FinSMEs

18/05/2022

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