Inviragen and SingVax have merged their complementary vaccine pipelines and their international product development capabilities to create a company that is developing a wide range of vaccines for infectious diseases prevalent in emerging economies.
Concurrently, the combined company raised $15m in a Series A equity investment from international venture capital investors, including Charter Life Sciences (Palo Alto, CA), Venture Investors (Madison, WI), Bio*One Capital (Singapore) and Phillip Private Equity (Singapore).
The new company will retain the Inviragen name and will have research and corporate operations in Fort Collins, Colorado, vaccine development operations in Singapore and vaccine testing capabilities in Madison, Wisconsin.
As stated by John Neis of Venture Investors, “The Series A equity financing will fund the Phase 1 and 2 clinical testing of Inviragen’s lead vaccines and fund company operations well into 2012”.
Dr. Dan Stinchcomb, Inviragen Chief Executive Officer, was reported as saying: “Post-merger, Inviragen has three vaccines poised to begin human clinical trials.
“During the next 18 months, these clinical studies will test vaccine safety and measure the immune responses induced by these three vaccines to establish ‘proof-of-concept’ of their efficacy”.
“During the next 18 months, these clinical studies will test vaccine safety and measure the immune responses induced by these three vaccines to establish ‘proof-of-concept’ of their efficacy”.
FinSMEs
06/10/2009