Participants included Batterson Venture Capital, VCapital, FastForward Innovations, SalvaRx Group PLC, Declan Doogan M.D. and Jim Mellon as well as several other accredited investors and family offices.
"Our lead drug, INT230-6, has shown strong results in severe murine models of metastatic cancer via a combination of direct tumor killing and immune system activation. Not only do a high percentage of animals given large tumors achieve a complete response, those animals develop a "vaccine-like" protection against re-exposure to the same cancer," said Intensity’s President and CEO, Lewis H. Bender.
"We received strong interest from investors to participate in our Series A financing, the amount of which was increased to meet demand. Proceeds will be used to fund operations, manufacture the clinical supplies, permit the needed regulatory filings and conduct a series of clinical trial cohorts in cancer patients with various tumor types."
Mr. Bender continued, "The addition of Drs. Doogan and Leahy to our Board will greatly enhance our Company. Both executives are seasoned, experienced drug developers with great business expertise. We are looking forward to working closely with them as we move forward into human trials."
Dr. Doogan, M.D., commented, "Intensity’s strong preclinical data convinced me that the technology being pioneered by the Company has the potential to be a major step forward for the treatment of solid tumors. It was their novel, anti-cancer, immune-based therapeutic approach combined with the solid management team that prompted me to become involved with the Company."
"The results Intensity have achieved and the speed with which the Company advanced from product concept to an IND-ready product candidate is remarkable," Emer Leahy, Ph.D. added.
"I’ve worked with Lew Bender on the Board of NYBA for a number of years and I am excited to have the opportunity to do so again – now as a Board member where I look forward to supporting Intensity’s talented management team in their efforts to create a valuable new drug to treat cancer."