Investment
Adjuvantix, a developer of vaccines against cancer and tuberculosis spun out from the University of Sheffield, UK, has received £350,000 to develop vaccines incorporated with the company’s proprietary ADX40 adjuvant system. The investment round was led by Yorkshire Cancer Research, who invested £250,000, and returning investors include the White Rose Technology Seedcorn Fund and Fusion IP, each investing £50,000.
Adjuvant systems are tools that boost the immune response to antigens and contribute to vaccine effectiveness. They also prevent the risk of the vaccine antigens going unnoticed by the immune system. The funding will enable Adjuvantix to optimise incorporation of their proprietary ADX40 adjuvant into cancer vaccines and to test them in clinical trials.
Andy Heath, of Adjuvantix, said, “We were delighted to receive the support of Yorkshire Cancer Research for our vaccine programme. We hope our technology will be a major impetus to the development of therapeutic cancer vaccines which will ultimately prove useful in the clinic.”
David Milroy, White Rose Technology Seedcorn Fund, said: “Adjuvantix is operating in a burgeoning field - the vaccine market is going through a renaissance, with a large number of products in development and significant M&A activity. Whilst at a relatively early stage we believe that the technology from Adjuvantix has the potential to enhance existing vaccines and create a new generation of therapeutic and prophylactic vaccines for previously intractable diseases.”
Morgan Williams, of Yorkshire Cancer Research, said, “Having provided a pump-priming grant for the early stages of the ADX40 research, YCR is delighted to be able to help Adjuvantix further its cancer adjuvant development work. The charity continues to support cancer research outcomes with the prospect for significant patient benefit, and which show good potential. The ADX40 project meets those criteria.”
David Baynes, of Fusion IP, said, “This is great news for the company and we are delighted to be working with Yorkshire Cancer Research and WRTSF to support this exciting ADX40 research. Adjuvantix has the potential to have considerable future value.”
http://www.whiteroseseedcorn.com/
http://www.yorkshirecancerresearch.org.uk/
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