Immunovaccine Inc. will receive $2.9 Million from the Atlantic Canada Opportunities Agency (ACOA), under the Atlantic Innovation Fund (AIF). This non-dilutive funding will enable Immunovaccine to develop new diagnostics to identify specific subsets of cancer patient populations that would benefit most from receiving DepoVax™-based vaccine therapies.
This funding will also help the Company develop additional methods for measuring vaccine activity, information that will help the company design future Phase II clinical trials.
"In the future, vaccines will be targeted to treat patients with a specific immune profile and measurable outcomes will be correlated with clinical benefit; this is where the field of cancer immunotherapy is headed," commented Dr. Marc Mansour, Vice President of Research and Development at Immunovaccine.
The Atlantic Innovation Fund investments were announced yesterday by The Honourable Peter MacKay, Minister of National Defence. The AIF is helping Atlantic Canadian researchers and entrepreneurs carry out leading-edge research and development, bringing new knowledge, jobs and business opportunities to the region.