Avax Technologies
Avax Technologies, Inc. is a Philadelphia-based biotechnology company whose most advanced product candidate is MVax for melanoma. MVax is a cancer vaccine that received a Special Protocol Assessment agreement with the FDA in October 2006, and subsequently began a Phase III registration clinical trial in November 2007. In previous studies, MVax demonstrated a 5-year overall survival rate (OS)of 44% and response rate of 35%.
AC Vaccine
Product candidates
MVax
Started May 2007. Currently in a Phase III trial for Stage IV Melanoma.MVax’s Phase II response rate of 35% in combination with low-dose IL-2 compares favorably to the Phase II results of other melanoma cancer vaccines such as Vical’s Allovectin-7 and BioVex’s OncoVex, both of which are given as stand alone therapy.
Due to the 2008 financial crisis and cancer vaccine failures by companies such as Favrille and Cell Genesys, Avax had trouble attracting investors. In an effort to conserve cash, enrollment for the Phase III trial was suspended on March 26, 2009, but the trial itself is still ongoing. However on December 16, 2009, the company obtained bridge financing in the amount of $1,400,000. This will be used to conduct an interim analysis of the Phase III data for MVax. CEO John Prendergast notes: "Recent and anticipated news by companies involved with cancer vaccines and immunotherapies has resulted in renewed interest in the sector by institutional investors, larger pharma, biotechnology companies and the medical and scientific communities at large.".