A review of biopharma start-up dealmaking and financing activity from April through June 2017, based on data from Strategic Transactions, showed that fundraising activity more than doubled compared with the first quarter.

Complexa topped the list of recent venture capital financings with a $62m Series C round, followed by Evelo and Kezar with $50m Series B rounds and LogicBio with a $45m Series B.

Imaxio SA has identified a molecule that it believes can boost the body’s recognition of many antigens, and stimulate the immune system to produce both B cells and T cells. Some people might consider the molecule a “genetic adjuvant,” but the company itself refers to it as a “carrier protein.” Whereas classic adjuvants that provoke the body to a stronger immune response are mixed in with vaccines, Imaxio’s carrier will be genetically fused to specific components of a vaccine. The distinction matters from a regulatory perspective, and should simplify the path to market. Because both B and T cells help protect the body from foreign invaders, mustering the two together could greatly improve the power of a vaccine.

The vaccine industry has had its ups and downs the last two decades, as public opinion and investor perception has influenced both the use and production of these preventative medicines. It’s traditionally been a difficult space for smaller companies due to the financial hurdles, but a handful of start-ups, including TremRx, Selecta Biosciences Inc., Genocea Biosciences Inc. and Imaxio SA, all profiled in this issue, are banking on progress in delivery and development technology to help them raise financing for their vaccines programs.