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news.Genocea Biosciences, a vaccine discovery and development company, has raised $23 million in series A financing led by SR One, the corporate venture arm of GlaxoSmithKline.
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New investors Auriga Partners, Cycad Group, and Alexandria Real Estate Equities also participated in the financing and were joined by returning founding investors Lux Capital Management, Polaris Venture Partners and Morningside Ventures.
Russell Greig, president of SR-One said: “Novel prophylactic and therapeutic vaccines are one of the most important unmet needs in global health.
“Genocea has a one-of-a-kind technology, strong business model, and outstanding team for developing vaccines against many of the world’s remaining disease targets. SR-One is proud to be part of such a great syndicate and opportunity.”
In conjunction with the series A financing, Genocea also appointed executive director Staph Bakali as its new CEO. Mr Bakali replaces Genocea co-founder Robert Paull, co-founder and managing general partner of Lux Capital Management. Mr Paull will remain on Genocea’s board of directors.
Mr Bakali was formerly the COO of both ID Biomedical, a developer of influenza vaccines and PowderJect Pharmaceuticals, an UK-based vaccine developer. Mr Bakali is currently a non-executive director at Vienna, Austria-based Intercell.