Vyriad partners with leading drug maker to accelerate development of cancer therapies
The cancer-fighting startup Vyriad will be ramping up research and product development at its Rochester lab after inking a deal with the pharmaceutical giant Regeneron.
The collaboration, announced Wednesday, is a momentous breakthrough for the company — founded by Mayo Clinic researchers — as it looks to expand the use of its novel oncolytic virus therapies.
The companies plan to start their work together next year with a Phase 2 clinical study using Vyriad's lead product, the cancer-killing Voyager-V1. The goal is to validate the use of the Vesicular Stomatitis Virus (VSV)-based treatment in various types of cancers, including melanoma, lung, liver, and endometrial cancers. As part of the agreement, researchers will also evaluate the use of the Voyager-V1 when paired with one of Regeneron’s own products, the PD-1 blocking antibody Libtayo.
"Through the collaboration, we expect that the emerging power of oncolytic virotherapy can finally integrate with proven capabilities of antibody engineering, with the potential to create life-changing medicines for cancer patients,” said Dr. Stephen Russell, CEO and co-founder of Vyriad.
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Though terms of the deal were not disclosed, a Vyriad spokesperson said the agreement comes with an upfront payment and equity investment from Regeneron. Filings with the U.S. Securities and Exchange Commission show that Vyriad has raised $24.4 million from 10 different investors — including Regeneron — as part of its latest fundraising round.
With the cash infusion, Vyriad expects to hire 20-25 employees over the next year, mostly in research and manufacturing positions.
Those workers will join Vyriad’s existing research team in a new $9 million facility, located at the Rochester Technology Campus.
Sean Baker is a Rochester journalist and the founder of Med City Beat.
