Paris-headquartered Edmond de Rothschild Investment Partners (ERIP) has led the investment of CHF25m (US$21.3m) round B financing for Swiss vaccine developer GlycoVaxyn.
The funding also attracted interest from previous investors including Index Ventures and Sofinnova Partners, both of which helped seed the company in 2006.
The new capital will be used to finance the company’s vaccine for intestinal infections which will progress into clinical development within the next year. It will also be used for the company’s work in its Staphylococcus aureus, Group B meningococcal and Group A Streptoccus conjugate vaccine programmes.
Partner of ERIP Giles Nobécourt has joined GlycoVaxyn’s board of directors. He said, “Edmond de Rothschild Investment Partners has come to the conclusion that GlycoVaxyn has currently one of the most powerful new technology platforms, which has delivered several very promising vaccine candidates. The company now has sufficient funds to move to the next, clinical stage in its development.”
GlycoVaxyn raised CHF11.5m (US$9.3m) for its series A financing in July 2007.