Aravax, a clinical-stage company developing treatments for food allergies, has received a $12 million investment from government-funded Breakthrough Victoria for their PVX108 peanut allergy candidate.
The result of over fifteen years of research and development conducted by Alfred Health and Monash University, PVX108 retrains the immune system by employing components of proteins known as peptides. The peptides in the treatment are selected from specific parts of the peanut protein that do not cause life-threatening anaphylactic reactions. As a result, the treatment has proven to be safe and well-tolerated in Phase 1 clinical trials.
Here is a video describing the treatment:
Said Breakthrough Victoria CEO Grant Dooley:
We’re excited to invest in Aravax.
Victoria’s biotech sector really is world class. This therapy developed right here in Victoria, has the potential to change the lives of peanut allergy [sufferers] across the world.”
The FDA gave Aravax the green light to begin Phase 2 clinical trials in March of 2022, and the company announced the first dosing of participants in June 2023.