Virometix closes oversubscribed financing round29.12.2015 16:41
Virometix closed a new financing round, which involved existing shareholders as well as a new private investor and was oversubscribed.
Virometix, founded in 2009, develops vaccines and immunotherapeutic drugs for the prevention and treatment of infectious and chronic human diseases. Its proprietary Synthetic Virus-Like Particle (SVLP) and Synthetic Antigen Mimetic (SAM) technologies allows for the rapid production and optimization of vaccine candidates with superior properties in terms of safety, efficacy and stability.
The biotech company strives to establish the SVLP technology as a new benchmark for in the design of high added value vaccines for infectious, respiratory and oncological diseases. Virometix is developing a portfolio of preclinical candidates for a first-in-class vaccine for Respiratory Syncytial Virus (RSV), two broad-spectrum next-generation vaccines for HPV / cervical cancer and for S. pneumoniae diseases as well as vaccines for the treatment of cancers. Each of these vaccine candidates addresses diseases that affect millions of people worldwide and cause lead to a significant economic burden. Potential peak sales for each of these vaccines are estimated to top 1 billion Swiss francs.
The proceeds from the new financing round will be used to expand Virometix’ operations and advance its vaccine candidates for infectious and viral diseases.