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X-Vax Technology Raises $56 Million in Upsized Series A Financing to Advance Lead Herpes Vaccine Program | SEBIO

X-Vax Technology Raises $56 Million in Upsized Series A Financing to Advance Lead Herpes Vaccine Program

Posted by on Jul 24, 2019

JUPITER, FL. –  X-Vax Technology, Inc. (X-VAX ™), a biotechnology company developing vaccines based on a new approach that mediates the killing of infected cells, today announced that it has raised $56 million in an upsized Series A financing with participation from strategic and institutional investors, including Johnson & Johnson Innovation – JJDC, Inc. (JJDC); Adjuvant Capital, an impact investment fund supported by the Bill & Melinda Gates Foundation as an anchor investor; Serum Institute of India; Alexandria Venture Investments; and FF DSF VI, a scout investment vehicle out of Founders Fund. Proceeds from the financing will be used to advance X-VAX’s lead program, a vaccine candidate against herpes, called ∆gD-2 (delta gD-2) for further development and production, including a Phase 1 clinical study.

“We are pleased to have the support of our new and existing investors as we continue to build our leadership position in the development of a herpes vaccine,” said Ulf Wiinberg, President and Chief Executive Officer of X-VAX. “We are encouraged by the preclinical data for our new approach to beating herpes and creating a potentially world-changing vaccine.”

“Herpes infections are a significant global health problem that affect all age groups from infants to the elderly. Infection is associated with a wide range of disease,” said Betsy Herold, MD, co-Inventor and Professor of Pediatrics, Microbiology & Immunology at Albert Einstein College of Medicine in New York. “The ability of the virus to successfully escape clearance by the immune system and to establish a non-replicating state known as latency with periodic reactivation results in lifelong infection and ongoing risk of transmission.”

“We believe that ∆gD-2 may be more promising than other previous vaccine candidates because it elicits a different type of immune response against HSV-1 and HSV-2 that is more effective in preclinical models at clearing virus and preventing the establishment of latency. In nonclinical models, immunization with ∆gD-2 elicits antibodies that facilitate the killing of infected cells, rapidly clearing the virus and thereby inducing sterilizing immunity,” added William Jacobs, PhD, co-Inventor and Professor of Microbiology & Immunology at Albert Einstein College of Medicine.

Maxim Merchant Capital, a division of Maxim Group LLC, acted as sole placement agent for the financing.


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