SutroVax, a Foster City, CA-based independent vaccine platform and development company, closed an $85m Series C financing.
The round was led by new investor TPG Growth, with participation from new investors Medicxi and Foresite Capital and existing institutional investors Abingworth, Longitude Capital, Frazier Health Care Partners, Pivotal bioVenture Partners, Roche Venture Fund, and CTI Life Sciences Fund. In conjunction with the closing of the financing, Heath Lukatch, Ph.D., Partner at TPG, will join the SutroVax Board of Directors and Francesco de Rubertis, Ph.D., Founding Partner of Medicxi, will join as a Board Observer.
The company intends to use the funds to advance a broad-spectrum pneumococcal conjugate vaccine (PCV) candidate through mid-stage clinical development and continue to expand its pipeline of novel vaccines.
Led by Grant Pickering, CEO and Founder, SutroVax aims to deliver conjugate vaccines and novel complex antigen-based vaccines to prevent serious infectious diseases. Its conjugate vaccines are developed utilizing the company’s exclusive rights to Sutro Biopharma’s Xpress CF™ Platform, a cell-free protein synthesis technology.
The platform enables precise and consistent conjugation of antigens to site-specific locations on a protein carrier that do not impede T-cell help resulting in higher-potency conjugates. SutroVax is utilizing these more potent conjugates to develop, among other programs, a broader-spectrum PCV product.