MinervaX ApS, a privately held Danish biotech firm creating a novel vaccine in opposition to Group B Streptococcus (GBS), has accomplished a €72 million ($76.5 million) financing spherical.
The fairness financing of €22 million ($23.4 million) was co-led by new buyers Trill Impression Ventures and Pureos Bioventures and contains present buyers REPAIR Impression Fund (Novo Holdings), Sunstone Life Science Ventures, LF Funding, Wellington Companions, Sanofi Ventures, Adjuvant Capital and Industrifonden. Along with the fairness financing, the European Funding Financial institution supplied a €50 million ($53 million) mortgage facility.
This yr, MinervaX commenced enrolment of pregnant ladies in its section 2 medical trial in Denmark, the U.Okay., and South Africa and accomplished the dosing of wholesome grownup ladies, beforehand dosed with its GBS vaccine, in a section 1 booster medical trial within the U.Okay.
The financing will allow MinervaX to advance the late-stage growth of its GBS vaccine candidate in preparation for a section 3 medical trial. The vaccine candidate was lately awarded PRIME standing by the European Medicines Company (EMA) attributable to its potential to stop life-threatening infections in new child infants.
MinervaX additionally goals to develop its medical growth group and consider the section 2 medical knowledge for efficacy and security forward of publication subsequent yr.
Per Fischer, chief govt officer of MinervaX, mentioned: “We’re delighted to announce this financing, which provides us the firepower to speed up the event of our novel GBS vaccine. GBS may be life-threatening for new child infants and there’s no authorized, universally out there vaccine so far.
“I want to thank the buyers and the MinervaX group who’ve labored very exhausting on our vaccine candidate in preparation for the ultimate stage of medical growth.”