Support for Theravectys
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.http://www.european-biotechnology-news.com/news/news/2012-03/prominent-support-for-theravectys.html