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VaxInnate's $30mm Series D supports swine flu vaccine candidate
Vaccines developer VaxInnate completed a $30mm Series D financing to lead and first-time backer Wellcome Trust, which adds a board member. Returning shareholders CHL Medical Partners, Canaan Partners, HealthCare Ventures, MedImmune Ventures, New Leaf Venture Partners, and Oxford Bioscience Partners also participated. The money will support clinical trials of various infectious disease vaccines, as well as the continued development of a prototype swine flu vaccine, which should enter preclinical studies in about a month. It is possible that at the government's request, VaxInnate could begin manufacturing a swine flu vaccine within weeks of the product's approval to meet the needs of the current global crisis. To date the company has raised about $95mm in venture funding.
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