MALVERN, Pa.--(BUSINESS WIRE)--Dec. 13, 2004-- VIMAC Milestone Medica, Quaker BioVentures, and The Aurora Funds Co-lead Investment in Pennsylvania-based Company

Neotropix(TM), Inc., a company developing novel viral-based therapies for the treatment of cancer and other diseases, announced that it has raised $10 million in its first round of private equity financing. The company has a unique virotherapy approach, which will allow it to develop an extensive pipeline of therapeutics. The Series A round was co-led by The Aurora Funds, Quaker BioVentures, and VIMAC Milestone Medica Fund.

Neotropix's lead product, SVV-001, is a native virus (Seneca Valley Virus, SVV) which has shown remarkable efficacy in murine cancer models. In addition, SVV overcomes many of the hurdles classically associated with the development of viral therapies. The natural properties of SVV allow for large-scale manufacturing for clinical trials, and its initial safety and toxicity profiles are promising. The lack of pre-existing immunity to SVV and its exquisite specificity allow for systemic administration, a characteristic that has eluded many other virotherapies.

"Though I've worked in the fields of virotherapy and oncology for more than a decade, I have never encountered another agent at this stage of development with more therapeutic potential than SVV," said Paul Hallenbeck, founder, chief scientific officer and president of Neotropix. "We are excited about SVV's near term potential to treat cancers with neuroendocrine properties and create additional viral based therapeutics for other cancer indications.

"I'm also happy with our decision to make the Philadelphia area the permanent home for Neotropix. The proximity to large pharmaceutical companies and leading academic centers makes Philadelphia a great base for our operations. Coupled with an outstanding investor syndicate, Neotropix is in an excellent position to capitalize on its proprietary assets," Dr. Hallenbeck added.

"SVV has the potential to address some very aggressive diseases, such as small-cell lung cancer, where current treatment options are dismal," said Dr. Chris Kroeger of The Aurora Funds. "The magnitude of unmet needs in small-cell lung cancer provides the opportunity for an efficacious new therapeutic to dramatically impact patient care."

"Neotropix is an early stage company with a robust pipeline of product candidates and strategies," added Dr. Sena Biswas of VIMAC Milestone Medica. "The Series A funding provides the company with the ability to leverage its broad platform while retaining a focused product development strategy."

The financing is projected to carry the company through Phase I/II clinical trials in small-cell lung cancer, slated to begin in 2006. Neotropix also plans to target additional cancer indications utilizing derivatives of SVV, as well as in-licensing or discovering other viruses with beneficial oncolytic properties.

BioAdvance Ventures, a fund managed by Quaker BioVentures investment professionals, also participated in the financing.

Members of the Neotropix board of directors include Dr. Matt Rieke of Quaker BioVentures, Jeff Clark of The Aurora Funds, Dr. Biswas, and Dr. Hallenbeck.

About Neotropix
Neotropix is an early stage drug discovery company dedicated to the research, development and commercialization of virus-based therapies for the treatment of cancer. Founded in 2003, Neotropix is developing oncolytic virotherapies to treat several of the most aggressive and deadly forms of cancer. The company's initial efforts focus on research and development of Seneca Valley Virus for the treatment for small-cell lung cancer. For more information, please visit www.Neotropix.com .

About VIMAC Milestone Medica
VIMAC Milestone Medica Fund is an early stage life sciences fund co-sponsored by VIMAC Ventures LLC, RBC Technology Ventures, and BTG. The fund is the latest offering in the VIMAC Ventures family of Boson-based fund and is focused on companies along the East Coast of the U.S. and into Ontario and Quebec. Joining the co-sponsors are a number of institutional investors including The Solidarity Fund QFL, headquartered in Montreal, with more than C$5.2 billion in assets, and Innovatech Montreal, Quebec's leading high-tech venture capital investor. As a result of the strong support of these LP's, VMM has a unique focus on the Quebec life sciences community. Please visit www.vimac.com

About Quaker BioVentures
Quaker BioVentures is a $280M venture capital firm dedicated to investing in life science companies located in the Mid-Atlantic region. The firm leads investments in companies across the spectrum of the life science industry, including biopharmaceuticals, medical devices, human diagnostics, health information technology, and healthcare services. Quaker BioVentures invests in companies at varying stages of development, from early stage businesses to public companies. Please visit www.quakerbio.com .

About The Aurora Funds
Founded in 1994, The Aurora Funds is a venture capital firm that provides capital and strategic help to entrepreneurs with early stage life sciences and information technology companies in the Southeastern and mid-Atlantic United States. The firm has more than $155 million of total capital under management and is currently investing out of its fourth fund of $85 million. The firm has the capacity to invest between $4 million and $7 million throughout the life cycle of an investment. More information is available at www.aurorafunds.com .