Navigation Links
GlycoVaxyn AG Raises CHF 25 Million in Financing Led by Edmond de Rothschild Investment Partners
Date:3/5/2009

SCHLIEREN, Switzerland, March 5 /PRNewswire/ --

- Proceeds to Facilitate Clinical Development of Lead Conjugate Vaccine

GlycoVaxyn, a pioneer in the development of innovative conjugated vaccines, today announced the successful closing of a CHF25 million (ca. US$22 million, EUR17 million) Series B financing. The round was led by Edmond de Rothschild Investment Partners. Existing investors, Index Ventures and Sofinnova Partners, expressed their commitment to the future of the company through significant participation in this round.

Conjugated vaccines provide protection against a growing range of life-threatening bacterial infections. GlycoVaxyn has developed a proprietary technology that allows the engineering of a new type of conjugate vaccine, glycoconjugates. This innovation will enable GlycoVaxyn to address significant unmet medical needs in both industrialized and emerging countries.

The new funds will be used to advance the company's lead vaccine candidate for intestinal infections (Shigellosis), which can cause a major public health issue, into clinical development within the next 12 months. GlycoVaxyn also aims to reach key milestones in its Staphylococcus aureus, Group B meningococcal and Group A Streptococcus conjugate vaccine programs.

In conjunction with the financing, Gilles Nobecourt, Partner at Edmond de Rothschild Investment Partners, has joined GlycoVaxyn's Board of Directors. Of the transaction, he said: "After reviewing several investment opportunities in the field, Edmond de Rothschild Investment Partners has come to the conclusion that GlycoVaxyn has currently one of the most powerful new technology platforms, which has delivered several very promising vaccine candidates. The Company now has sufficient funds to move to the next, clinical stage in its development. I look forward to contribute to the future growth of this company as a Board member."

"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 and as the team continues to deliver on its business strategy, we look forward to the additional support from our new Board member, Gilles."

About GlycoVaxyn

GlycoVaxyn has built a broad portfolio of novel conjugate vaccines against common severe bacterial infections based on its unique, proprietary in-vivo glycosylation platform. With this platform, the company can develop and produce immunogenic glycoproteins in a simplified biological process that circumvents many of the difficulties involved in current methods. The lead conjugate vaccines in development are directed against Shigella dysenteriae, to prevent serious intestinal infections, and against hospital acquired Staphylococcus aureus. GlycoVaxyn also has active programs against N. meningitidis and Group A Streptococcus. GlycoVaxyn, a spin-out of the Swiss Federal Institute of Technology (ETH), is based in Schlieren, near Zurich, Switzerland. For further information, visit http://www.glycovaxyn.com.


'/>"/>
SOURCE GlycoVaxyn AG
Copyright©2009 PR Newswire.
All rights reserved

Related biology technology :

1. Eiger BioPharmaceuticals Raises $7.1 Million A Round
2. NanoBio Corporation Raises $12 Million in Series B Financing
3. Divergence Raises $11.8 Million in Series C Financing
4. Sigma-Aldrich (Nasdaq: SIAL) Reports Fourth Quarter Diluted EPS of $0.68. Ends 2008 With Record Sales and Earnings and Raises Quarterly Cash Dividend by 11.5%. Provides Outlook for 2009.
5. AMERIGROUP Praises Expansion of State Childrens Health Insurance Program (SCHIP)
6. JMAR Technologies Raises Awareness of BioSentry -- A High Tech Counter to Bioterrorism
7. Anacor Raises $50 Million in Equity Financing
8. MichBio Expo Draws Nearly 500 Professionals; Career Day Raises Profile
9. Sensorin Raises Equity Financing to Launch Novel Industrial Sensing Venture
10. Simbionix Raises Largest Amount in Companys History in Venture Capital to Accelerate Growth
11. Vista Partners Updates Coverage on Arana Therapeutics (ASX: AAH; AIM: AAHx), Raises Target Price to AU$1.65
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:1/12/2017)... WASHINGTON, DC , January 12, 2017 ... set up the world,s biggest facility for producing mycorrhizae. ... translated the nutrient tapping potential of mycorrhizae and developed ... ...      (Logo: http://mma.prnewswire.com/media/456932/PRNE_TERI_Logo.jpg) The TERI ...
(Date:1/12/2017)... ... January 12, 2017 , ... ... RURO has enhanced the platform to accommodate increasingly complex and sophisticated deployments, ... searching, and more. In addition to these improvements, the latest release brings ...
(Date:1/11/2017)... ... January 11, 2017 , ... Photonics industry and ... , are commending the U.S. Congress and President Obama for their recognition of ... of the American Innovation and Competitiveness Act (AICA). , The language of the ...
(Date:1/11/2017)... ... January 11, 2017 , ... Microbial ... ground-breaking microbiome studies. Its most recent microbiome impact grant award has been made ... the effect of long-term use of oral antibiotics, prescribed for skin conditions, on ...
Breaking Biology Technology:
(Date:12/20/2016)... 20, 2016   Valencell , the leading ... STMicroelectronics (NYSE: STM), a global semiconductor leader ... announced today the launch of a new, highly ... that includes ST,s compact SensorTile turnkey ... biometric sensor system. Together, SensorTile and Benchmark deliver ...
(Date:12/16/2016)... , Dec. 16, 2016 The global wearable medical device ... billion by 2021 from USD 5.31 billion in 2016, at a ... ... driven by technological advancements in medical devices, launch of a growing ... for wireless connectivity among healthcare providers, and increasing focus on physical ...
(Date:12/15/2016)... Advancements in biometrics will radically ... wellbeing (HWW), and security of vehicles by ... vehicles begin to feature fingerprint recognition, iris ... monitoring, brain wave monitoring, stress detection, fatigue ... detection. These will be driven by built-in, ...
Breaking Biology News(10 mins):