MMJ Group Holdings Limited(ASX:MMJ)(“MMJ”)is an Australian-listed specialist investment company which concentrates on producing capital growth for shareholders over the medium to long term from investments in listed and unlisted equities and other financial assets.
MMJ invests AUD1m in Valo Therapeutics
MMJ has completed an investment of AUD1m in the unlisted Valo Therapeutics Oy (“Valo Tx”) based in Finland. MMJ’s investment was part of a total pre-IPO equity financing of approximately USD13m to fund the finalisation of preparations and initiation of a Phase 1 clinical study of Valo Tx’s lead tumour antigen- coated oncolytic virus candidate, PeptiCRAd-1 in addition to the continued development of its anti-infectives platforms including PeptiBAC and PeptiVAX. The proceeds will also be used to support Valo Tx’s preparations for an IPO in 2022. The investment was made from MMJ’s existing cash reserves.
Valo Tx is an immunotherapy company that is developing antigen-coated oncolytic viruses and vaccine vectors as therapeutic vaccines against cancer and infectious diseases. Valo Tx’s lead platform, PeptiCRAd (Peptide-coated Conditionally Replicating Adenovirus), was developed out of the laboratory of Professor Vincenzo Cerullo at the University of Helsinki. It turns oncolytic adenoviruses into targeted, tissue-specific cancer vaccines without the need to develop and manufacture multiple genetically modified viruses.
Read the full ASX release here.
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