SutroVax, a Foster City, CA-based independent vaccine platform and development company, closed a $60m Series B financing.
The round was led by new investors Frazier Healthcare Partners and Pivotal bioVenture Partners, with participation from existing investors Abingworth, Longitude Capital, Roche Venture Fund and CTI Life Sciences Fund. In addition to Series B funds raised, the existing investors are investing an additional $4m in SutroVax. As part of the financing, Patrick Heron, Frazier Healthcare Partners’ Managing General Partner, and Tracy Saxton, Ph.D., Pivotal bioVenture Partners’ Managing Partner, will join SutroVax’s Board of Directors.
The company intends to use the funds to advance its lead pneumococcal conjugate vaccine (PCV), which prevents invasive pneumococcal disease caused by Streptococcus pneumoniae, and accelerate the antigen discovery and early-stage development efforts in other disease areas.
Led by Grant Pickering, CEO, SutroVax is a biopharmaceutical company dedicated to the delivery of conjugate vaccines and novel complex antigen-based vaccines to prevent serious infectious diseases. developed utilizing exclusive rights to Xpress CF Platform, a cell-free protein synthesis technology.
Its broad-spectrum PCV is designed to provide expanded protection against circulating strains of pneumococcus and has the potential to replace the current vaccines used in infants and adults. The company has generated pre-clinical proof-of-concept in head-to-head studies with its broad-spectrum PCV compared to current vaccines using well accepted immunological endpoints.