Switzerland: GlycoVaxyn receives €17M to develop anti-bacterial vaccines

Funding round completed

ETH-Zürich spin-out GlycoVaxyn, which is developing conjugate vaccines against bacterial infections, has raised €17M (CHF25M) in a financing round led by Edmond de Rothschild Investment Partners and returning investors Index Ventures and Sofinnova Partners. The funds will see GlycoVaxyn develop its vaccine candidate for the treatment of Shigellosis for clinical trial testing in 2010 and contribute to the implementation of other vaccine programmes.

GlycoVaxyn’s conjugate vaccine technology makes use of the anti-bacterial properties of glycoconjugates, allowing for the development of vaccines that can prevent life threatening infections caused by bacteria such as Shigella, Staphylococcus aureus, Group B meningococcus and Group A Streptococcus, which are increasingly prevalent in both industrialised and emerging countries.

The agreement will also see the appointment of Gilles Nobécourt, of Edmond de Rothschild Investment Partners, to the GlycoVaxyn board of directors. He commented: “After reviewing several investment opportunities in the field, Edmond de Rothschild Investment Partners has come to the conclusion that GlycoVaxyn has currently one of the most powerful new technology platforms, which has delivered several very promising vaccine candidates. The Company now has sufficient funds to move to the next, clinical stage in its development. I look forward to contribute to the future growth of this company as a Board member.”

Michel Greco, of GLycoVaxyn, said: “Under the leadership of CEO Philippe Dro, GlycoVaxyn has established the solid fundamentals required to raise funding in the current economic downturn. The company is well financed for the move into clinical trials and as the team continues to deliver on its business strategy, we look forward to the additional support from our new Board member, Gilles.”