Virometix, a privately held biotechnology firm developing a novel generation of immunotherapeutic drugs and vaccines for preventing and treating infectious as well as oncology diseases, reportedly announced the completion of Series B investment round which raised CHF (Swiss Franc) 7.5 million ($7.9 million).
The new funds would be added to the company’s prior seed and Series A financings of approximately CHF 10.3 million, which brings in the overall capital raised till date by the firm to CHF 17.8 million.
The investment round comprised of participation from new private investors as well as current investors. It would further help ensure that the firm could finish the phase 1 clinical trial of its main asset, V-306 in respiratory syncytial virus (RSV), advance its other research partnerships, progress the pre-clinical development of its innovative vaccine candidates against SARS-CoV-2, and consolidate the Virometix team.
Virometix CEO, Anna Sumeray, stated that the company is thrilled with the constant support and strong confidence of its existing investors in its capabilities and is pleased to have captivated interest from new investors.
Sumeray further stated that the company is looking forward to differentiate its platform and produce positive data over the upcoming months.
Anna Sumeray and Axel Polack have now been elected as members for Virometix’s Board of Directors.
Virometix AG is a Switzerland-based privately held biotechnology company that develops a new gen of immunotherapeutic drugs and vaccines for the prevention and treatment of cancer and infections. In a increasingly globalized world, there is extensive medical requirement for vaccines to fight infectious and chronic human diseases like cancer.
Virometix' proprietary SVLP platform technology, chemical synthesis, and rational molecular design allows for fast optimization and production of vaccine candidates having the potential to show greater properties in terms of efficacy, stability, and safety. With the firms exclusively positioned platform technologies SAM (Synthetic Antigen Mimetics) and SVLP, its focus is to establish a new level in the design of nanomedicines and synthetic vaccines.
Source credit: https://www.businesswire.com/news/home/20200716005471/en/Virometix-Announces-Successful-Closing-Series-Investment-raising