Moat Biotechnology, an Oklahoma City, OK-based biopharma company which advances intranasal/inhaled adenovirus vaccines, raised $6.5M in its first close of funding.
This first close comes shortly after an initial investment, led by Cortado Ventures, targeting up to $20M. Boyd Street Ventures also participated in the initial round of funding.
The company intends to use the funds to expand the ongoing Phase 1 clinical trial of an intranasal or inhaled vaccine boost for COVID-19 and initiate the development of 2nd and 3rd SC-AdVax vaccines for additional mucosal pathogens.
Led by CEO Dr. Scott Rollins, and Russell Rother, President, COO, Moat Biotechnology is a clinical development stage biopharmaceutical company focused on the development of novel intranasal/inhaled and oral vaccines based on the SC-AdVax platform that was exclusively licensed from the Mayo Clinic.
The company holds an exclusive patent license from Mayo Clinic for the novel second generation single-cycle adenovirus vaccine platform (SC-AdVax) to develop vaccines that can elicit and boost both mucosal and systemic immunity for the treatment of infectious diseases, like COVID-19. The novel SC-AdVax platform targets cells in the respiratory tract or GI tract to elicit a strong mucosal immune response by reacting to pathogens at their point of entry, which is a significant advancement over existing vaccine platforms, including mRNAs.
FinSMEs
13/06/2023