Immunovaccine Secures $5 Million Loan to Support Clinical Stage Cancer Vaccines

Immunovaccine Inc., a clinical stage vaccine company, has obtained a loan of $5 million from the Province of Nova Scotia, to be used to fund a portion of working capital through 2016. The secured loan is interest bearing and repayable in 2018.

Immunovaccine currently has several vaccine programs in development, including two clinical stage cancer vaccines, which have both demonstrated positive immune response and safety results in human studies. The company announced in July that it will collaborate with Canada’s NCIC Clinical Trials Group to conduct a Phase II study of its lead cancer vaccine, DPX-Survivac, in patients with advanced ovarian cancer.