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news.VaxInnate, a US-based biotechnology company, has secured $30 million in new series D financing, led by its new investor, The Wellcome Trust. New Leaf Venture Partners, Canaan Partners, HealthCare Ventures, Oxford Bioscience Partners, MedImmune Ventures and CHL Medical Ventures, representing all existing shareholders, also participated in the financing.
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The funds will be used for the development of the company’s vaccines for infectious diseases that include influenza, human papillomavirus (HPV), respiratory syncytial virus (RSV) and dengue. Specifically, the company plans to fund several clinical trials, including a Phase II clinical trial of its M2e universal flu vaccine and a Phase I clinical trial of its seasonal flu vaccine in an elderly population.
VaxInnate said that it is already working on a prototype swine flu vaccine that could be available for preclinical animal studies in as early as six weeks. If successful, VaxInnate’s swine flu vaccine could be manufactured in a matter of weeks and at volumes sufficient to rapidly meet global vaccination needs, the company added.
Alan Shaw, CEO of VaxInnate, said: “We’re delighted to add The Wellcome Trust to our roster of shareholders and gratified to see our investors’ continuing interest in VaxInnate. The additional funding will make it possible for us to continue advancing our flu vaccines forward to market and to support the application of our technology platform to vaccines for other infectious diseases, among them HPV, RSV and the emerging swine flu.”