Affinivax intends to use the proceeds from the Series B round of financing to continue developing its MAPS pneumococcal vaccine program and to advance several additional vaccine candidates targeting hospital-associated infections (HAIs) into clinical studies
Fremon, CA: Affinivax, a clinical-stage biotechnology company with its novel MAPS technology platform for vaccines and immunotherapies, has raised $120 million in Series B round of financing. Viking Global Investors led the financing round with participation from Bain Capital Life Sciences and Ziff Capital Partners. The Series B funding represents Affinivax's first financing round to be completed since its launching in 2014 when the firm received an initial seed and Series A equity investment from the Bill & Melinda Gates Foundation. The company has leveraged the initial investment, non-dilutive grant funding, and a partnership with Astellas Pharma to advance its novel Multiple Antigen Presentation System ("MAPS") vaccine technology into clinical trials.
Affinivax intends to use the proceeds from the Series B round of financing to continue developing its MAPS pneumococcal vaccine program and to advance several additional vaccine candidates targeting hospital-associated infections (HAIs) into clinical studies.
"We are very pleased to welcome such a strong syndicate of new investors to Affinivax and look forward to benefiting from their deep experience," said Steven B. Brugger, CEO of Affinivax. "Having built the company to over 70 employees and advanced MAPS into clinical testing in less than five years, we are very excited to look ahead to our next phase of growth, taking our lead pneumococcal vaccine through Phase 3 testing and bringing several additional novel MAPS vaccines and immunotherapies into clinical trials."
In conjunction with the Series B financing, Andrew Hack, MD, Ph.D., and Steven Altschuler, MD, have joined Affinivax's Board of Directors. "The Affinivax team is addressing a critical public health need with a novel and creative approach," said Dr. Hack, a Managing Director of Bain Capital Life Sciences. "As our team seeks to invest in breakthrough technologies with the potential to improve patient health around the world, we were impressed by the approach and progress made by the Affinivax team and look forward to helping advance its pipeline of innovative vaccines into clinical trials."
"With the ongoing increase in the global health threat posed by a broad range of infectious diseases, new prevention strategies to combat the disease are more important than ever," said Dr. Altschuler, Managing Director of Ziff Capital Partners. "We believe Affinivax's novel MAPS vaccine technology with its promise for broad protection can play a key role in the prevention of serious infectious diseases."
With the significant increase in antimicrobial resistance now creating a global health challenge in medical care facilities, Affinivax's pipeline includes MAPS vaccine candidates targeting the most prevalent HAIs. The effectiveness and availability of antibiotics against these serious bacterial infections remain very limited. While prevention strategies would have the most significant impact, there are no effective vaccines against HAIs available today.