Hopes for a vaccine or cure for HIV/AIDS have been dashed before. But recent scientific advances and greater understanding of the limits of antiretroviral drugs have reignited optimism. Just don't expect VCs to get on board.

New antigen types, novel delivery systems and a shift away from the low-hanging fruit towards more problematic conditions point to healthy prospects in the vaccines space, writes Dr Peter Charlish.

Selecta Biosciences has raised $15 million in an "opportunistic" series C financing. OrbiMed Advisors led the round, with existing investors Polaris Venture Partners, Flagship Ventures, NanoDimension and Leukon Investments also participating.