GlycoVaxyn raises funds for conjugated vaccine development

Existing investors Sofinnova Partners and Index Ventures both significantly increased their equal investment in Swiss-based GlycoVaxyn, after having seeded the company in July 2006.

GlycoVaxyn will use the proceeds to advance its portfolio of novel conjugated vaccines. These comprise an antigenic sugar residue and protein carrier (glycoproteins), and according to the company, offer improved protective power, particularly in infants.

The financing proceeds will also be used to complete the preclinical development of a lead vaccine candidate as well as process optimization and the establishment of a GMP production process.

Conjugated vaccines have been produced since 1987 as protection against bacterial infections. GlycoVaxyn says that with the rise in demand for conjugated vaccines, it has developed a proprietary technology that is able to simplify the production process compared with current methods, target multiple sugar antigens and create products that may offer advantages in the regulatory approval process.

Simultaneously, GlycoVaxyn has appointed Michel Greco as chairman of the board of directors.

“We believe that Michel’s extensive experience in the vaccine industry will provide not only support on the product development process but also an invaluable network that will offer guidance for business development,” commented Dr Michael Wacker, co-founder and head of technology development.