The Swiss vaccine developer GlycoVaxyn has ginned $22 million for its Series B round. Edmond de Rothschild Investment Partners led the round with Index Ventures and Sofinnova Partners joining in.
GlycoVaxyn is a platform company, using new technology to engineer a novel type of conjugate vaccine--glycoconjugates--that can be used to combat bacterial infections. The new money will help push its lead program for intestinal infections into the clinic in 12 months while giving its team more time to hit its milestones on vaccines for Staphylococcus aureus, Group B meningococcal and Group A Streptococcus.
"Under the leadership of CEO Philippe Dro, GlycoVaxyn has established the solid fundamentals required to raise funding in the current economic downturn," noted Michel Greco, chairman of GlycoVaxyn. "The company is well financed for the move into clinical trials."
- check out GlyxoVaxyn's release