Vyriad, Inc. Raises $29.5M in Series B Funding Led by Renowned Genetics Entrepreneur

ROCHESTER, Minn., May 17, 2022 /PRNewswire/ — Vyriad, Inc., a clinical-stage biotechnology company developing viral oncolytic therapies to treat a wide range of cancers, today announced $29.5M in a new financing led by Mr. Harry Stine from Stine Seed Farms, Inc. with participation from existing investors. Stine Seed Farms joins Mayo Clinic, Mirae Asset, Regeneron Pharmaceuticals Inc., Southeast Minnesota Capital Fund (SMCF) and several high net worth individuals on Vyriad’s investment list. This round adds to a previous close for Vyriad’s Series B round and brings the total funds raised by Vyriad since 2015 to more than $100 million.

“During my initial discussions with Mr. Stine, I was amazed to learn that Vyriad’s approach to developing safe, effective and cancer-targeting oncolytic viruses closely mirrors the Stine Seed model of screening, selection and high-throughput commercialization of new soybean and corn strains,” observed Vyriad co-founder and CEO Dr. Stephen Russell. “By leveraging these approaches, Vyriad aspires to become a powerhouse for the partnership generation and commercialization of high-performing, safety-modified oncolytic viruses that, when used alone or in combination with established therapies, can eliminate cancer without side effects. significant target or untoward toxicities.

dr. James Hamptonprofessor emeritus at University of Buena Vista and leading specialist in genetics and genomics, joined Vyriad’s Board of Directors as part of the financing. Dr Hampton commented: “Based on its unique technology platforms, broad patent coverage and data-driven approach to developing superior genotypes, Vyriad has striking similarities to the approach I saw Mr. Stine deploy in the development of the world’s first agricultural germplasm. high-throughput genetic model that has worked so well to feed the world, will also succeed in developing oncolytic viral therapies that offer new and effective cancer treatments.

About Stine Seed Farms, Inc.
Stine Seed FarmInc.founded by Harry H. Stine and seat near Adel, Iowafocuses on developing and marketing the world’s top performing corn and soybean seeds through its retail subsidiary, Stine Seed Company. Stine Seed Farm, Inc., operates the industry’s largest corn and soybean breeding and development programs, advancing and testing nearly one million unique soybean varieties and more than 100,000 preliminary corn hybrids each year. For nearly five decades, Stine’s soybean research program has been considered the soybean genetics provider of choice for the seed industry.

About Vyriad, Inc.
Vyriad is a clinical-stage company that develops oncolytic viral therapies for the treatment of cancers. Founded by scientists from the Mayo Clinic and the University of Miami, Vyriad is currently working with various viral platforms, programming them to selectively kill cancer cells and trigger anti-tumor immune responses to complete and sustain the tumor destruction process. In 2019, Vyriad and Regeneron (NASDAQ: REGN) entered into a large-scale strategic agreement to discover and develop novel oncolytic viral therapies that leverage Vyriad’s vesicular stomatitis virus (VSV) platform, as well as capabilities Regeneron’s Unmatched Antibody Discovery Breakthroughs. Voyager-V1, Vyriad’s lead clinical-stage VSV asset, is being evaluated in Phase 1-2 clinical trials in multiple cancers, either alone or in combination with the PD- 1 Libtayo® (cemiplimab-rwlc) from Regeneron.

Vyriad is a private company based in Rochester, Minnesota. Its 25,000 square foot facility on the Rochester Technology Center campus includes office space, state-of-the-art research labs, a GMP manufacturing facility and support systems for multicenter viral oncolytic therapy clinical trials. For more information, visit www.vyriad.com.

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SOURCEVyriad, Inc.

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