Affinivax Inc., a Cambridge, Mass.-based biotechnology company dedicated to developing novel vaccines, raised $2.5m in equity funding.
The Bill & Melinda Gates Foundation made the follow-on investment based on the achievement of predefined, success-based milestones with the development program for a novel pneumococcal vaccine based on Affinivax’s Multiple Antigen Presentation System (MAPS) platform.
The company intends to advance its lead MAPS vaccine targeting Streptococcus pneumoniae (pneumococcus) towards clinical testing.
Led by Steven B. Brugger, CEO, Affinivax is utilizing its novel Multiple Antigen Presentation System (MAPS) vaccine technology, developed initially at Boston Children’s Hospital, to develop and commercialize a MAPS vaccine targeting Streptococcus pneumoniae. MAPS is also designed to provide broad protection against both invasive disease as well as colonization and disease transmission – offering the potential to protect against all pneumococcal serotypes.
These advantages have been confirmed in early product development and preclinical testing.
The company received an initial $4m investment from the Bill & Melinda Gates Foundation in October 2014.