Belgium-based KU Leuven spin-off that develops vaccines, AstriVax, raised EUR 30 million. The seed funding round took place on August 25, 2022. V-Bio Ventures and Fund+ led the financing for the firm. Meanwhile, Flanders Future TechFund, Thuja Capital, and Ackermans & van Haaren participated in the round. Mérieux Equity Partners (via OMX Europe Venture Fund), BNP Paribas Fortis Private Equity, and the KU Leuven Gemma Frisius Fund also joined in the investment.
Purpose of funding for AstriVax
AstriVax intends to launch its first thermostable yellow fever vaccine with the latest capital. The vaccine introduced will be launched at the clinical development stage.
Further, the company has plans to develop its pipeline vaccine candidates – one to prevent rabies and one to treat chronic hepatitis B.
Hanne Callewaert, PhD will hold the position of CEO at AstriVax. Besides, AstriVax seeks to leverage technology developed at the KU Leuven Rega Institute. The technology will be further used to create novel vaccines. These vaccines are easy to produce, have reduced cold chain requirements, and offer broad and long-lasting protection against various viruses and other pathogens.
What the AstriVax officials have to say
Hanne Callewaert, PhD, who will lead the company as CEO, said, “I feel privileged to work with the world-renowned team of Professor Johan Neyts and Kai Dallmeier to spin out this vaccine platform technology that holds such broad potential in addressing unmet medical needs. Being funded and supported by a strong consortium of investors will bring AstriVax’s technology into clinical validation. I see this as a strong confirmation of the confidence in the potential of the technology, team, as well as collaborations.”
In addition, Professor Johan Neyts (KU Leuven), co-founder, said, After more than ten years of hard work and dedication, our academic team has developed and refined a novel, potent, and versatile vaccine approach. Kai Dallmeier and I are thrilled that AstriVax will bring our revolutionary vaccine technology to clinical development. This will significantly increase the number of people we can protect and treat against dreadful infectious diseases on all continents. We are also excited to work with CEO Hanne Callewaert, with the support of an enthusiastic and experienced consortium of investors and advice from authorities in the field.”
What the investors have to say
Shelley Margetson, the managing partner at V-Bio Ventures, further said, “We are impressed with the quality of the scientific work that has been done by Johan Neyts and Kai Dallmeier over the past years at KU Leuven. Turning academic excellence into valuable products for society through creating spin-out companies is at the heart of V-Bio Ventures. “
Caroline Goddeeris, PhD, principal at Fund+, further added, “We greatly appreciate the expertise of the founders and team at Astrivax and are convinced that the thermostable plug-and-play vaccine platform has great potential to prevent and treat a large array of diseases through the remarkable immune response it elicits. Fund+ is honoured to be part of the Astrivax story and to contribute to the lives of people and patients worldwide.”
About the company
AstriVax is a privately held spin-off company from the KU Leuven. The company came into existence in 2022. AstriVax is also in the process of building on its highly innovative, first-in-class plug-and-play vaccine platform. The platform is based on the pioneering work of co-founders of KU Leuven’s Rega Institute.
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