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.