Immune Targeting Systems (ITS) Limited, a London, UK-based developer of synthetic vaccines for mutating viruses, secured additional £8.65m in Series A equity funding. It brings the total Series A financing to £13.15m.
The company’s key investors HealthCap (Sweden), London Technology Fund (UK), Novartis Venture Fund (US & Basel) and Truffle Capital (France) are all participating.
The round will be kept open until mid-2010 for new potential investors to invest.
This funding will progress ITS’s lead candidate FP-01 through to the completion of phase-II proof of concept efficacy studies. This vaccine holds the promise of being able to target all potential seasonal and pandemic influenza strains and protect people from severe influenza disease.
Commenting on the round, Carlton Brown, CEO of ITS, was reported to say: “This round of financing will allow the company to evaluate its flu vaccine product candidate in phase I and Phase II clinical trials and assess the vaccine safety and preliminary efficacy against multiple influenza virus strains”.