FluGen Inc., a Madison, WI-based biotechnology company developing a novel “universal” influenza vaccine, completed a $12m Series A financing.
Backers included Venture Investors LLC, the Wisconsin Alumni Research Foundation (WARF), the State of Wisconsin Investment Board, and other new and existing investors led by Knox LLC.
The company intends to use the funds for the continued development of its lead universal influenza vaccine candidate, REDEE FLU ™, including completion of an initial human clinical trial and the preparation of a quadrivalent vaccine candidate.
Led by Paul V. Radspinner, Chief Executive Officer, FluGen is advancing REDEE FLU, a single replication live influenza virus vaccine that can infect cells, express influenza RNA and proteins, but does not produce any new virus.
In addition to the funding, the company also appointed Dan Stinchcomb, Ph.D., co-founder and CEO of Inviragen, a privately held vaccine company which developed vaccines for dengue fever, hand, foot and mouth disease, and chikungunya, and Mr. C. Boyd Clarke, a veteran vaccine executive with both private and public biotechnology companies, as independent directors.
Dr. Stinchcomb will join the Board of Directors as Executive Chairman.