December 1, 2025 – Proviva Therapeutics, Inc., invested by Viva BioInnovator (VBI), today announced the successful completion of its over $30 million Series A+ financing. The round was led by OrbiMed, with participation from renowned investors including Hankang Capital, HSG and a well-known global fund. Proceeds will support the global clinical development of the company’s lead asset, PTX-912, and advance multiple additional preclinical programs.
Proviva Therapeutics is a clinical-stage biotechnology company developing next-generation anti-tumor immunotherapies. The company’s proprietary CROSSOVER cytokine pro-drug platform and MUSICA multifunctional effector cell activation platform enable tumor-microenvironment specific activation of therapeutic molecules. These technologies are designed to overcome major limitations of traditional cytokines and immune cell engagers, including high peripheral toxicity, lack of precise immune activation, and induction of effector-cell exhaustion. Proviva aims to drive meaningful global advances in cancer immunotherapy through these differentiated technology platforms.
PTX-912: A Global First-in-Class PD-1/IL-2 Pro-drug Fusion Protein
PTX-912 is a first-in-class PD-1 antibody–IL-2 pro-drug fusion protein discovered by Proviva Therapeutics. Key innovations include:
1) Engineered IL-2 Pro-drug: Incorporates an IL-2 mutant with retained IL-2Rβγ and partial IL-2Rα binding, with systemic activity masked through a pro-drug structure to substantially reduce peripheral toxicity.
2)Targeted Delivery via PD-1 Blockade: Fusion with a PD-1 antibody enables checkpoint inhibition while directing IL-2— released only upon protease activation in the tumor microenvironment (TME)—to tumor-specific T cells.
3) Enhanced Immune Synergy: Activated IL-2 also promotes stimulation of tumor-infiltrating NK cells, offering potential anti-tumor innate immunity.
By combining PD-1 blockade with TME-selective IL-2 pathway activation, PTX-912 is designed to provide potent antitumor efficacy while minimizing toxicity traditionally associated with IL-2–based therapeutics.
PTX-912 is currently being evaluated in a Phase 1a/b clinical trial. Early data demonstrate a favorable safety and tolerability profile and promising anti-tumor activity, including confirmed partial responses (cPRs) in patients with non-small cell lung cancer (NSCLC), supporting the molecule’s clinical potential.
Hongxing Zhou, Ph.D., Founder and CEO of Proviva Therapeutics, commented: “We extend our sincere appreciation to our long-standing investors for their continued support and to our new investors for their trust in our team and their confidence in our products. This financing marks an important milestone for Proviva. We will fully leverage these resources to address critical challenges in tumor immunotherapy, particularly drug resistance and safety, accelerate global development of PTX-912, and expand our pipeline with additional breakthrough therapeutic candidates. Our mission is to bring transformative therapies to patients worldwide while delivering sustainable value to our investors and employees.”
About Proviva Therapeutics
Founded in 2019, Proviva Therapeutics is a clinical-stage biotechnology company pioneering the development of novel immuno-cytokine therapeutics for cancer. Leveraging its proprietary CROSSOVER pro-drug platform and MUSICA multifunctional effector cell activation technology, Proviva is building a globally competitive pipeline targeting major unmet needs in cancer treatment. The company’s lead program, PTX-912, a first-in-class PD-1-proIL-2 fusion protein, has already demonstrated excellent tolerability profile and promising anti-tumor activity in early stage clinical testing.
