More news about Virometix

Virometix Closes Financing Round

22.05.2017 08:49
Virus

Virometix has raised CHF 5.0 million in new equity financing. Virometix plans to use the new funds to expand its operations and progress its vaccine candidates for infectious and viral diseases and cancer to next inflections points, including the start of a phase 1 clinical study for its lead vaccine.

The investment was backed by existing shareholders and new private investors with longstanding experience in the life science sector. The proceeds will be used to support further development of its vaccine candidates. The lead vaccine V306 for RSV has shown excellent safety and strong efficiency in preclinical models. Respiratory Syncytial Virus (RSV) is a seasonal respiratory virus that infects the lungs and breathing passages and can lead to severe lower respiratory tract illness (LRI) and other illnesses in newborns, small children, older adults and immunocompromised persons. Currently there is no vaccine available.

Dr Pierre A. Morgon, Chairman of the Board, said: “With this infusion of smart capital from investors experienced in healthcare, and the network of world-class experts supporting the company, Virometix is ideally positioned to leverage its attractive platform with its strong intellectual property position”.

“We are delighted to have received substantial support from our shareholders as well as several new private investors, said Arin Ghasparian, CEO of Virometix, „The new financing will enable us to advance our lead RSV vaccine candidate more rapidly into clinical development, to further define our solution in oncology immunotherapy, and further underpins the attractiveness of our value proposition. “

Emmanuel Savioz, recently appointed CFO, commented “This financing provides the resources we need to reach important value-inflection milestones in 2018 and beyond.”

About RSV
Respiratory Syncytial Virus (RSV) is a seasonal respiratory virus that infects the lungs and breathing passages. It can spread via droplets sneezed or coughed into the air by an infected person. Otherwise healthy individuals infected with the virus typically recover within one to two weeks. However, RSV can cause severe lower respiratory tract illness (LRI) and other illnesses in newborns, small children, older adults and immunocompromised persons. RSV is very common: most children experience at least one infection in the first two years of life and about 5% of the older population become infected every year. A drug called Palivizumab is used for the prevention of severe illness in certain children who are at high risk. It is not effective in curing children already suffering from disease. Currently there is no vaccine available.

About Virometix
Virometix AG is a privately held biotechnology company developing a new generation of vaccines and immunotherapeutic drugs for the prevention and treatment of infectious and chronic human diseases. Rational molecular design, chemical synthesis and Virometix' proprietary Synthetic Virus-Like Particle platform technology allow for the rapid production and optimization of vaccine candidates with superior properties in terms of safety, efficacy and stability. Virometix is a spin-out company from the University of Zurich.

(SK)

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