VerImmune Awarded $500K SBIR Phase IIB Follow-on Funding from the National Science Foundation

SBIR supplemental funding will advance development of ViP™ technology platform

Washington DC – April 28th, 2023 - VerImmune, Inc. (“VerImmune”), a biotechnology company developing innovative Virus-inspired Particle (ViP) modalities, announced today that it has received a $500,000 supplemental Small Business Innovation Research (SBIR) Phase IIB award from the National Science Foundation (NSF) to further advance its ViP platform for efficient delivery of payloads.

The award follows the achievement of a majority of VerImmune’s current SBIR Phase II milestones, as well as its successful $2.5 million seed round in July 2022. The investor-matching criterion for this supplemental SBIR funding underscores the strong potential of VerImmune’s ViP technology and its continued commitment to advancing its  ViP platform for oncology as well as other problematic  disease targets in the future.

"Receiving this highly competitive follow-on supplemental funding from the NSF is a testament to the groundbreaking work we are doing at VerImmune to develop potential innovative therapies for patients with unmet medical needs," said Joshua Wang, Founder and CEO of VerImmune Inc. "We are committed to advancing our ViP platform to address critical healthcare challenges and look forward to utilizing this non-dilutive funding to drive our efforts forward."

VerImmune’s current focus is in Oncology whereby the ViP enables a novel first-in-class cancer immunotherapy approach known as Anti-tumor Immune Redirection (AIR). This potential treatment approach harnesses the body's pre-existing immune system against pathogens and childhood vaccines to fight cancer.

About VerImmune

VerImmune is a biotechnology company developing a novel first-in-class cancer therapy known as Anti-tumor Immune Redirection (AIR). This strategy utilizes a proprietary virus-inspired particle (ViP) technology platform that redirects pre-existing pathogenic or childhood vaccine immune memory towards tumors. This unique mechanism of action allows differentiation within the competitive Immuno-Oncology market. Importantly, it potentially changes the treatment paradigm for many patients who have un-treatable cancers due to limited options or experience cancer treatment resistance. For more information, visit http://www.verimmune.com