Lyon (FR) – 18 March 2022, 8:00 am CET
Vaxxel , a French start-up developing vaccines against respiratory viral infections, announces it has raised €1.2 million funding to support the development of the first intranasal bivalent vaccine candidate against human Respiratory Syncytial Virus (RSV) and human Metapneumovirus (HMPV), a major source of bronchiolitis and viral pneumonia.
The €1.2 million funding has been provided by, Family Offices, Financial institution, Business Angels and individual investors. In particular, BpiFrance, Angels Santé and Femmes Business Angels have participated to this fundraising.
The proceeds will be used for the preclinical development of Vaxxel's proprietary live-attenuated intranasal vaccine candidate against both RSV and HMPV. The objective of Vaxxel's technology is to mimic natural infection without causing the disease, and to activate both humoral and mucosal immunity. The vaccine candidate is based on Metavac®, Vaxxel's proprietary recombinant HMPV virus attenuated through reverse genetics.
“We are very pleased with this new round of funding and grateful to the new investors. It will allow Vaxxel to get through the next preclinical value milestones and prepare a Series A round later this year. Candidate-vaccines from Vaxxel respond to a large unmet public health need worldwide. RSV and HMPV are major sources of bronchiolitis and pneumonia for children under 5 years old and for adults above 65 years old. Our innovative monovalent and bivalent vaccine candidates target a market potential exceeding 5 billion euros. The recent filing of a European patent protecting our bivalent candidate vaccines reinforces Vaxxel's intellectual property rights.” said Denis Cavert, President of Vaxxel.
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Vaxxel is a spin off from VirPath, the virology and human pathology Laboratory of the University Claude Bernard in Lyon (UCBL), France, and has been founded by Dr. Manuel Rosa-Calatrava Co-Director of Virpath (Lyon), by Pr. Guy Boivin of the University of Laval (Québec), and by Denis Cavert, President of Vaxxel. Vaxxel develops live-attenuated viruses as vaccine-candidates against Metapneumovirus and against Respiratory Syncytial Virus based on the versatile Metavac® vaccine platform. This platform has been funded and licensed by Pulsalys Technology Transfer Office and incubator of Université de Lyon and supported by Lyon Ingénierie Projets (LIP), a subsidiary of UCBL. Proof of Concept of the first monovalent vaccine candidate against the Metapneumovirus has been demonstrated on both animal and human ex-vivo models. The company is a recipient of the 2019 i-Lab award, organized by the Ministry of Higher Education, Research and Innovation in partnership with Bpifrance, and has also received the “FrenchTech seed” label. Transgene (Euronext: TNG) is a shareholder of Vaxxel.
For this fundraising, VAXXEL was advised on all corporate law matters by FAIRLIGHT, a legal practice based in Lyon.
About Vaxxel vaccine candidates
Vaxxel develops two vaccine candidates against respiratory infections: a monovalent vaccine against human Metapneumovirus (hMPV), and a bivalent vaccine against both hMPV and Respiratory Syncytial Virus (hRSV). These two pneumoviruses are the source of acute respiratory infections such as bronchiolitis or pneumonia in children below 5 years old and in older adults above 65 years old. There is no vaccine available today to protect the 195 million persons at risk (including 46 million children) from these severe infections (US and EU, 2020). Vaxxel's live attenuated intranasal vaccine candidates are based on two proprietary technologies: Metavac®, a recombinant hMPV seed attenuated through reverse genetic, and DuckCelt®-T17, an avian cell line grown in suspension with demonstrated capability to be used at industrial scale. The objective of Vaxxel's technology is to mimic natural infection without causing the disease and to activate both humoral and mucosal immunity.
About Angels Santé
Angels Santé, based in France, is the first European Business Angel network dedicated to healthcare. Angels Santé is at the heart of healthcare early-stage funding. Angels Santé is a member of both European Business Angels federations: Business Angels Europe (BAE) et European Business Angels Network (EBAN). It also leads the EIT Health Investor Network program, a pan European network of healthcare investors.
About Femmes Business Angels (FBA)
FBA is the only women business angels network in France, and n° 1 in Europe. About 170 women individually invest in high potential startups and supports their growth. FBA investors are focused on high potential companies in various fields, at an early stage, led by men and women, and wishing to raise between €200k and €2m.