Vaxxas, a Cambridge, Mass., USA, and Brisbane, Queensland, Australia-based biotechnology company commercializing a novel vaccination platform, secured A$25m [US$20m] series B equity funding.
New and existing investors participated. This new round brought the total capital raised to A$40m [US$33m]. Vaxxas had raised A$15m [US$12m] Series A equity financing led by OneVentures with co-investors Brandon Capital, the Medical Research Commercialisation Fund (MRCF), and US-based HealthCare Ventures.
The company intends to use the funds to advance a series of clinical programs and develop a pipeline of new vaccine products for major diseases.
Founded in August 2011 and led by David L. Hoey, President and CEO, Vaxxas leverages its proprietary Nanopatch platform, which induces immune system activation by targeting vaccine to the abundant immunological cells immediately below the surface of the skin, against major diseases, such as influenza, polio, bacterial infections, and cancer.