Juvaris completes $25M close of series B

Adjuvant vaccines developer Juvaris BioTherapeutics has completed the first close of a Series B round. The Burlingame, CA-based company says it will use the capital to advance its technology platform and carry its lead adjuvant, JVRS-100, into midstage clinical development for seasonal and pandemic flu.

The financing of up to $25 million was funded by SV Life Sciences and Kleiner Perkins Caufield & Byers (KPCB). SV Life Sciences' managing partner Michael Ross will join Juvaris Board of Directors. "Mike's highly successful drug development experience at Genentech and track record of building strong biotech companies at SVLS will be of critical ongoing value to Juvaris," said CEO Grant Pickering.

- here's the Juvaris release