News

MabVax Therapeutics Closes $8 Million Series A Financing with GBP Capital

Greenwich, CT and San Diego, CA February 27, 2008 -- MabVax Therapeutics Inc., a privately held immunotherapeutics discovery and development company focused on the development and commercialization of novel immunotherapies for the treatment of cancer, today announced the completion of a eight million dollar venture financing with GBP Capital.

MabVax was formed to build upon the work of Dr. Phil Livingston and colleagues who over the last 25 years have developed monovalent cancer vaccines against ten distinct antigenic targets on various types of cancer cells. These vaccines target gangliosides and other carbohydrate antigens that are the most extensively expressed antigenic targets on the cell surface of certain cancers. Vaccines, or passively administered antibodies developed from these vaccines, produced evidence demonstrating the prevention of tumor recurrence and prolonged survival in preclinical models and supporting data in early Phase I human clinical trials. The company is focused on developing polyvalent vaccines and a pipeline of fully human monoclonal antibodies to address a variety of cancers including small cell lung cancer, sarcoma, and melanoma.

These cancers have similar clinical courses in that a majority of patients from each of these types of cancer reach a minimal disease status at the conclusion of their initial therapy. Unfortunately, each of these types of cancer have high metastatic potential and generally poor long term prognosis due to recurrent disease. MabVax believes that passively administered or vaccine induced antibodies against cell surface antigens are ideally suited for eradication of free tumor cells and micrometastasis. The adjuvant setting (after surgery and/or completion of chemotherapy) is an ideal time for immune intervention and in particular for administration of monoclonal antibodies or cancer vaccines aimed at instructing the immune system to identify and kill these few remaining cancer cells. If antibodies of sufficient titer can be administered or induced against tumor antigens to eliminate tumor cells from the blood and lymphatic systems thus eradicating micrometastasis this would dramatically change the current approach to treating the cancer patient. Establishment of new metastasis would no longer be possible so aggressive local therapies including surgery or radiation therapy, and intralesional treatments, might result in long term control of even metastatic cancers.

"We are extremely pleased to have partnered with GBP Capital," said David Hansen, the company’s President and Chief Executive Officer. "We believe GBP Capital has the scientific and early stage corporate management experience to help MabVax reach its goal of delivering important new therapeutic agents in our fight against recurrent cancer. MabVax welcomes David Wetherell and Dr. Douglas Lind to its board of directors.

"GBP Capital is excited to be the Series A investor in MabVax, remarked Dr. Douglas Lind, managing partner at GBP Capital, "The two pronged approach of vaccines and monoclonal antibodies targeting specific antigens carries great potential to become a significant breakthrough in cancer immunotherapy. Dr. Phil Livingston and team have been at the forefront on cancer immunotherapy development for the last quarter century. We look forward to working with him in advancing his technology to improve the lives of cancer patients and their families."

About MabVax Therapeutics, Inc.
MabVax Therapeutics, Inc. is a privately held immunotherapeutics discovery and development company focused on developing and commercializing novel vaccines and human antibodies for the treatment of cancer. The company was formed to exploit the key aspects of the work of Dr. Philip Livingston and colleagues. The Company plans to commercially develop polyvalent versions of the already developed monovalent vaccines by initiating two Phase II clinical trials against small cell lung cancer and sarcoma in the second half of 2008. Concurrently, MabVax will create a pipeline of fully human monoclonal antibody products against each of the monovalent vaccines by using both the vaccines and the lymphocytes from successfully vaccinated patients participating in vaccine clinical trials scheduled to begin this year as starting materials for its antibody generation program. The company is based in San Diego, CA.

About GBP Capital
GBP Capital is a Greenwich, CT based private equity firm founded in early 2005 by David S. Wetherell, founder and former CEO of CMGI and innovator in the technology and Internet industries. GBP Capital's mission is to improve the human condition by providing venture funding and assistance to the most promising early to mid-stage life science companies. GBP targets companies with novel approaches to diagnostics, therapeutics, and medical devices that will change the face of healthcare innovation in the future. For additional information, please visit the company's website at http://www.gbpcap.com.

Contact:
David Hansen
President and CEO
2907 Wishbone Way
Encinitas, CA 92024
858-248-1276
dhansen2907@sbcglobal.net

Dr. Douglas Lind
Managing Partner
GBP Capital
537 Steamboat Road, Suite 200
Greenwich, CT 06830
203-769-2348
dlind@gbpcap.com
www.gbpcap.com