MVRIX Raises $6.1M for In Vivo CAR-T Therapy Platform

South Korean biotechnology firm MVRIX has successfully closed a $6.1 million Series B funding round, propelling its ambitious development of in vivo CAR-T therapies. This significant capital infusion, totaling 8 billion Korean won, will accelerate the company's proprietary antibody-guided messenger RNA (mRNA) platform, designed to revolutionize cell therapy manufacturing.

The investment was supported by a robust syndicate of venture capital firms, including prominent players like Korea Investment Partners, Intervest, iGene, Korea Omega Investment, Lifecore Partners, and Seoul Techno Holdings. This latest funding follows a 2022 Series A round of $2.4 million, bringing MVRIX's total raised capital to over $8.5 million. The company's innovative approach bypasses the complex and costly ex vivo cell engineering process, aiming to make advanced cell therapies more accessible.

MVRIX's core technology, dubbed Navibody, utilizes antibody-conjugated lipid nanoparticles to deliver mRNA directly to T cells within the patient's body, thereby generating CAR-T cells in situ. This in vivo generation strategy holds the potential to drastically reduce the manufacturing burden and the prohibitive costs, often exceeding hundreds of thousands of dollars, associated with traditional cell therapies. The company's lead candidate, MIC-001, is being developed for autoimmune conditions such as systemic lupus erythematosus (SLE).

Preclinical data shared by MVRIX indicates successful targeted delivery of payloads to T cells and subsequent CAR-T cell generation. Studies in non-human primates have demonstrated CAR expression in T cells and provided initial safety insights under repeat-dose conditions. While these findings are promising, further rigorous efficacy and safety evaluations are planned before advancing to human clinical trials. The company is also exploring a next-generation recombinant botulinum toxin, MBT-002, with aesthetic rights out-licensed to iGene.

Proceeds from the Series B round are earmarked for critical development milestones. MVRIX intends to refine MIC-001's molecular formulation, conduct extensive efficacy testing in humanized mouse models, validate safety and efficacy in non-human primates, and bolster its manufacturing capabilities. These steps are crucial for preparing an Investigational New Drug (IND) application, marking a significant stride toward clinical translation. The company's commitment to innovation is further underscored by a U.S. patent for its gene therapy delivery platform.

This funding round underscores the growing investor confidence in novel gene therapy delivery systems, a sector experiencing significant innovation and capital inflow. The advancements by MVRIX align with a broader trend of biotech firms seeking to overcome the logistical and financial hurdles of advanced therapeutics, potentially unlocking new treatment paradigms for a range of challenging diseases.