Genelux, a Phase 3 biotech developing oncolytic viral immunotherapies for solid tumors, raised $15 million by offering 2.5 million shares at $6, the low end of the range of $6 to $7.
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. The company has met the preestablished endpoint for a Phase 2 clinical trial of Olvi-Vec in platinum resistant/refractory ovarian cancer (PRROC), began regulatory study start-up for a Phase 3 registration trial of Olvi-Vec in PRROC in the 2Q22, and initiated enrollment in the 3Q22.
Genelux plans to list on the Nasdaq under the symbol GNLX. The Benchmark Company and Brookline Capital Markets acted as joint bookrunners on the deal.
