05.09.2012 - French vaccine specialist Theravectys has closed a financing round worth €7.48m. The firm will use cash to develop immunotherapies.
With this new cash in hand, the biotech will continue the development of a new generation of vaccines based on lentiviral vectors. "Within the next two years, we hope to be able to demonstrate in humans not only the safety but also the potential effectiveness of our anti-HIV vaccine candidate," says Renaud Vaillant, CEO of Theravectys. The funds raised stem exclusively from private investors. Among them are prominent representatives from large entities like the Bettencourt family (L'Oréal), Philippe Oddo (Bank Oddo & Cie), Richard Hennessy (Cognac Hennessy) and Guy Paillaud (retail). John Pieters, former CEO of Amgen France completes the syndicate.
In particular, the fresh money enables the company to fund a Phase I/II clinical trial of its anti-HIV vaccine candidate and the development of new vaccine candidates based on lentiviral vectors. Theravectys also plans to move to new laboratories that are larger and can better accommodate the company’s development. Theravectys uses lentiviral vectors which have the ability to induce a strong, sustainable and diversified cellular immune response by endogenously stimulating dendritic cells. This technology was developed at the Institute Pasteur in Paris and out-licensed to Theravectys.
29.07.2015 Newly founded Mereo BioPharma has acquired three mid-stage clinical assets from Novartis. In turn, the Swiss pharma concern will hold a stake in the UK company. Other investors are also on board.
24.07.2015 Biotech companies across Europe continue to raise cash on the public markets, generating €3bn in total financing proceedings in the first half of 2015. Compared to 2014, this is almost twice as much.
23.07.2015 US money keeps flowing into Europe's biotechs. As the race for the peanut allergy market heats up, NASDAQ listed French biotech DBV has announced the successful closing of US$281m (€256m) share offering for its allergy products.
16.07.2015 Sanofi has announced plans to restructure its business in five standalone global business units starting in January 2016. The goal is to promote growth and help the company launch a catalogue of new drugs over the next five years.
15.07.2015 GlaxoSmithKline (GSK) has become the first drugmaker to join the Francis Crick Institute. It is a consortium made up of six scientific and academic institutes to conduct research and drug development in the UK. The new institute is set to become a world-leading centre of biomedical research and innovation.
10.07.2015 Karolinska Development has slashed the reported value of its portfolio by almost half by revising its valuation model for early stage companies and divesting its shares in pain med maker Pharmanest.
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