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Solid tumor biotech Genelux files for a $30 million IPO

June 24, 2022

Genelux, a Phase 2 biotech developing oncolytic viral immunotherapies for solid tumors, filed on Friday with the SEC to raise up to $30 million in an initial public offering.

Genelux is developing a pipeline of oncolytic viral immunotherapies for patients suffering from aggressive and/or difficult-to-treat solid tumor types. The company's lead candidate, Olvi-Vec (olvimulogene nanivacirepvec), is a proprietary, modified strain of the vaccinia virus, a stable DNA virus with a large engineering capacity. The company has met the preestablished endpoint for a Phase 2 clinical trial of Olvi-Vec in platinum resistant/refractory ovarian cancer (PRROC), and expects to be in regulatory study start-up for a Phase 3 registration trial of Olvi-Vec in PRROC in the 2Q22.

The Westlake Village, CA-based company was founded in 2001 and plans to list on the Nasdaq under the symbol GNLX. Genelux filed confidentially on May 7, 2021. The Benchmark Company, Brookline Capital Markets, and Valuable Capital are the joint bookrunners on the deal. No pricing terms were disclosed.