2 May 2018, Melbourne, Victoria – Aravax has received an additional investment of $1.9M from the Australian Medical Research Commercialisation Fund (MRCF) to complete the ongoing Phase 1 clinical trial, AVX001, and progress Phase 2 plans for its novel treatment of peanut allergy, PVX108.
These funds were released following Aravax’s achievement of research and development milestones to date, which related to progress in pharmaceutical and clinical development activities for PVX108.
We previously reported that in the single ascending dose stage of clinical trial AVX001, there were no adverse events of clinical concern, and no relationship between dose and frequency or severity of adverse events. The trial is now in its second stage which will evaluate the safety and tolerability of repeat administrations of PVX108.
Pascal Hickey, CEO of Aravax said “this additional investment recognises the tremendous progress made by our management and research teams on the development of PVX108 towards a very important cause.
We are now working hard on plans for Phase 2 clinical trials of PVX108 which will aim to identify an effective treatment regimen for sufferers of peanut allergy who currently have no therapeutic options available to them.” This $1.9 million investment tranche will be utilised for the completion of Aravax’s Phase 1 study (AVX001) and Phase 2 preparations