Eradivir Completes Series A Funding
Eradivir, a preclinical biotech company specializing in antiviral therapeutics, recently completed a $10.25 million Series A funding round. These funds will drive the Phase 2a challenge study of their innovative influenza treatment, EV25. The company's CEO, Martin Low, emphasizes the superior performance of EV25 in preclinical trials, stating that the therapeutic has consistently outperformed current influenza treatments.
EV25's Promising Results
The EV25 treatment, developed on a platform by Philip Low, a distinguished professor at Purdue University, has demonstrated remarkable results. In preclinical models, EV25 reduced the live virus to non-detectable levels within 24 hours. The upcoming Phase 2a and 2b trials aim to further establish EV25's safety and efficacy in humans, ultimately proving its effectiveness in real-world settings.
The Technology Behind EV25
EV25 leverages a small-molecule, bispecific immunotherapy, which focuses the power of the immune system to target and eliminate diseased cells. This approach, first applied to influenza, marks a significant advancement in immunological innovations. The Purdue Innovates Office of Technology Commercialization has moved to secure patents for these developments, licensing them to Eradivir for further growth and market introduction.
Funding Journey and Future Plans
The Series A funding round featured unique investor participation, including contributions from Philip Low, company board members, and small institutions. This financial backing aligns closely with the goals of Purdue University and Eradivir, highlighting a continued investment in discovering and developing new therapeutic molecules.
Eradivir has previously secured $10.8 million from past funding rounds and $1 million in grants from the National Science Foundation and BARDA. Moving forward, the company aims to raise an additional $10 million to complete critical trials, with a focus on nondilutive funding sources such as BARDA and the National Institutes of Health.
Eradivir's Vision
Eradivir's mission is to harness immune system power to treat diseases, with the EV25 influenza treatment as their pioneering product. By targeting and destroying infected cells, EV25 represents a breakthrough in how viral infections like influenza can be managed, potentially setting a new standard in healthcare.
