Aravax is a Melbourne-based biotechnology company developing the first precisely targeted immunotherapeutic for peanut allergy, PVX108. An investment of US$20m from Australian investors, Brandon Capital and Tenmile will support Phase 2 trials.
PVX108 does not contain peanut protein but is designed to precisely retrain the immune system to tolerate peanut allergens, and requires monthly, rather than daily dosing. The developers say the product’s design makes it safer and more convenient for people with acute peanut allergy.
Following positive data from pre-clinical studies and Phase 1 trails, Aravax’s Investigational New Drug (IND) application has been approved by the U.S. Food and Drug Administration (FDA) and a Clinical Trial Notification is in place with Australia’s Therapeutic Goods Administration (TGA). Aravax can now progress the Phase 2 clinical trial program at clinical trial centres in the U.S. and Australia.
The company is continuing to raise further capital to expand the study and accelerate development work towards Phase 3.
Established in August 2022 by the Forrest family office Tattarang, Tenmile is a dedicated health technology investment business. At the time of its launch, Nicola Forrest was quoted in the media as saying Tenmile will help Australian researchers and Australian companies to deliver life-changing products and medical treatments in a way that this country has not seen before.
Perth-based Tenmile has teams in Sydney and San Francisco. It is primarily focused on opportunities and building the broader health sciences commercialisation ecosystem in Australia, but also invests and partners in international markets. Areas of interest include medical devices, diagnostics, biotech, pharmaceuticals, and even healthcare services. Through Tenmile, the Forrests are said to be particularly excited about investing in emerging opportunities in immunology, oncology, digital health, the microbiome, and microbial resistance.