SpyBiotech, an Oxford, United Kingdom-based biotechnology company with a novel vaccine platform technology targeting infectious diseases, cancer and chronic diseases, raised $32.5m in Series A equity financing.
The round was led by new investor Braavos Investment Advisers and joined by new investor Oxford Investment Consultants. Founding investors Oxford Sciences Innovation and GV also participated, alongside the UK Government’s Future Fund, converting a prior convertible loan into equity.
The company intends to use the funds to advance the clinical development of its novel vaccine technology platform planning to begin a Phase I clinical study of its internal lead candidate, targeting human cytomegalovirus (HCMV), in early 2022.
Led by Professor Sumi Biswas, Chief Executive Officer and co-Founder, SpyBiotech is a biotechnology company with a novel vaccine platform technology to target infectious diseases, cancer and chronic diseases.
In September 2020, the company signed an exclusive global licensing agreement with the Serum Institute of India (SII) for the development of a novel virus-like particle (VLP) vaccine targeting COVID-19. The vaccine candidate uses the SpyCatcher/SpyTag protein “superglue” technology to display the coronavirus spike protein on the surface of Hepatitis B surface antigen (HBsAg) VLPs. SII initiated clinical trials of the RBD vaccine candidate in September 2020, providing initial clinical validation for SpyBiotech’s platform technology.
The company also appointed Lutz B. Giebel as Chairman. Lutz has significant operational, governance and investment experience gained over the course of a 30 plus year career in biopharma in the US. He has served on the Boards of 16 biopharma companies and held several executive positions, including Managing Partner at SV Life Sciences, an international healthcare focused venture capital firm, based in San Francisco. SpyBiotech further strengthens its Board through the appointment of Andre Crawford-Brunt, General Partner, Braavos Investment Advisers.