ATLANTA, GA – Emory University spin-off Metaclipse Therapeutics has raised about $200,000 in seed funding to do pre-clinical development of its lead anticancer products..
The biotech startup is developing personalized cancer therapies, harnessing the immune system to seek out and destroy cancers. Mateclipse’s first cancer therapy is for treating metastatic breast cancer.
The seed funding, included about $100,000 from the Georgia Research Alliance. Metaclipse expects to raise up to $2.5 million Series A by fall.
Led by biotech industry veteran Eric Tomlinson, Metaclipse will open a 9,000 square foot headquarters and lab facility near Spaghetti Junction.
Tomlinson was CEO of Altea Therapeutics Corp., an Atlanta life sciences company that raised more than $60 million in venture capital, and once contemplated going public.
The startup shuttered late last year after its commercialization partners — Eli Lilly and Co., Amylin Pharmaceuticals Inc. and Hospira Inc. — chose to halt funding, leaving the company strapped for cash.
Metaclipse has entered into an exclusive option agreement with Emory University to acquire a license to the worldwide product rights to the core technology developed in the laboratories of the startup’s scientific founder, Professor Periasamy (“Selva”) Selvaraj.
Metaclipse’s products are designed to activate the body’s immune system to mount a broad and robust attack against metastatic cancer cells. These products consist of “vesicles” manufactured from tumor cell membranes taken from the patient fortified with immunostimulatory proteins.
The modified vesicles present to the immune system both these immunostimulatory proteins and an array of patient-specific tumor-membrane antigens. Metaclipse anticipates the vesicles can destroy or suppress the growth of metastatic cancer cells originating from the patient¹s primary tumor.