Copenhagen, Denmark-based biotechnology company developing a novel, prophylactic vaccine against Group B Streptococcus (GBS), MinveraX, closed upsized financing at USD 54 million. The round took place on October 11, 2023. New investors such as EQT Life Sciences and OrbiMed, along with existing investors including Novo Holdings, Pureos Ventures, Sanofi Ventures, Trill Impact Ventures, Adjuvant Capital, Wellington Partners, Industrifonden, Sunstone LifeScience Ventures, and LF Invest, joined in the funding.
As a part of the deal, Vincent Brichard of EQT Life Sciences and Tal Zaks of OrbiMed will join the MinervaX Board of Directors.
Purpose of financing for MinervaX
With the latest financing, MinervaXx seeks to progress its novel GBS vaccine towards Phase III clinical trials in 2024.
What the company’s official has to add
Per Fischer, CEO of MinervaX, said, “The addition of EQT Life Sciences and OrbiMed to our existing investor consortium further strengthens the Company’s resolve to advance our novel GBS vaccine towards Phase III clinical trials in pregnant persons. It also provides additional validation and recognition of the acceptable safety profile and strong data demonstrated in the Phase II clinical trials. We are delighted to welcome Vincent Brichard and Tal Zaks to the board of directors, who will bring invaluable vaccine expertise as we continue to address the pressing need for the development of a novel vaccine to address the unmet medical burden of Group B Streptococcus.”
What the investors have to comment
Vincent Brichard, Venture Partner EQT Life Sciences, further commented, “EQT Life Sciences is thrilled to take an active part in the MinervaX prophylactic vaccine against GBS with the hope to save newborns’ lives. We are impressed by the clinical data achieved so far, the quality of the team and the near-term milestones enabling MinervaX to start a registration trial.”
Besides, Tal Zaks, Partner at OrbiMed, added, “We recognize the unmet need for better protection against GBS disease for vulnerable populations and the potential for MinervaX’s vaccine to provide best-in-class efficacy. I look forward to working with the MinervaX team to support the full development of this program.”
About the company
Per Fischer launched the company in 2010. The company developed a prophylactic vaccine against Group B Streptococcus (GBS) based on research from Lund University. MinervaX is developing a GBS vaccine for maternal immunization. It is also in the process of developing one for vaccination of older adults, with Phase II data suggesting superior efficacy compared with other GBS vaccine candidates in development.
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