GlycoVaxyn completes 11.5M SwFr financing

Switzerland's GlycoVaxyn, a pioneer in the development of a new generation of innovative conjugated vaccines, says it has closed a 11.5 million Swiss francs ($ 9.6 million) series A financing. Existing investors Sofinnova Partners (Paris, France) and Index Ventures (Jersey, Channel Islands, Geneva, Switzerland and London, UK) both significantly increased their equal investment in GlycoVaxyn, after having seeded the company in July 2006.

Simultaneously, GlycoVaxyn has appointed one of the vaccine industry's best known leaders, Michel Greco, as chairman of the board of directors. Over the past several years, Mr Greco has played a major role in increasing the awareness of the contribution of vaccines to innovation in the pharmaceutical markets and helping deliver it, says GlycoVaxyn.

The company will use the proceeds to advance its portfolio of novel conjugated vaccines that target common bacterial infections. These, it notes, comprise an antigenic sugar residue and protein carrier (glycoproteins), offer improved protective power, particularly in infants. Proof-of-concept, demonstrating immunogenicity in animal models, has been achieved with several vaccine candidates. The financing proceeds will also be used to complete the preclinical development of a lead vaccine candidate as well as process optimization and the establishment of a Good Manufacturing Practice-standard production process.