Minervax raises €47.4m in Series B from Sanofi Ventures, Adjuvant Capital and Industrifonden

MinervaX, a Copenhagen, Denmark-based biotech company, announced the completion of €47.4m in Series B financing.

The money was raised from investors including Sanofi Ventures, Wellington Partners, Adjuvant Capital and Industrifonden, which are joining existing investors Novo Holding's REPAIR Impact Fund, Sunstone Life Science Ventures and LF Investment.

Concurrent with the  financing, Christopher Gagliardi from Sanofi Ventures, Karl Nägler  from Wellington Partners, Kabeer Aziz from Adjuvant Capital and Bita Sehat from Industrifonden will join MinervaX’s board of directors.

Proceeds will be used to advance the Company's GBS vaccine through Phase II and preparation for Phase III.

MinervaX, founded in 2010 and led by CEO Per Fischer, develops a prophylactic vaccine against Group B Streptococcus (GBS), based on research from Lund University.

MinervaX is developing a GBS vaccine for maternal immunization, likely to have superior characteristics compared with other  GBS vaccine  candidates  in  development. The latter  are  based  on  traditional capsular polysaccharide (CPS) conjugate technology.

By contrast, MinervaX’s vaccine is a protein-only vaccine based  on  fusions  of  highly  immunogenic  and  protectiveprotein  domains  from  selected  surface proteins of GBS (the Alpha-like protein family).

Given the broad distribution of proteins contained in the vaccine on GBS strains globally, it is expected that MinervaX’s vaccine will confer protection against virtually 100% of all GBS isolates.