Genocea Biosciences is throwing its hat in the growing IPO ring. The biotech has laid out plans to raise $75 million to help fund its work on a pair of early-stage T-cell vaccines aimed at herpes and all strains of the bacteria pneumococcus.
Genocea has built a development platform that hunts up ideal antigens for spurring a T-cell attack on a pathogen. Its work has attracted the high-profile support of the Bill & Melinda Gates Foundation and may have applications in cancer immunotherapy as well.
The Cambridge, MA-based Genocea launched its Phase I study of its new pneumococcus vaccine just days ago, explaining to FierceVaccines that the biotech thinks it can do better than Pfizer's ($PFE) blockbuster Prevnar 13, which guards against 13 strains of the bacteria. Genocea says it has a more comprehensive approach.
Last fall, Genocea--a 2008 Fierce 15 company--landed a $30 million round, with the Gates Foundation joining CVF, Polaris Venture Partners, Lux Capital, SR One, Johnson & Johnson Development Corp., Skyline Ventures, Cycad Group, Auriga Partners, MP Healthcare Ventures and Morningside in bringing its total raise to $76 million.
This year has seen the biggest burst of biotech IPOs in a decade, a welcome turnaround from the drought years that led up to 2013. But in recent months, the market has seen more stumbles as a growing number of developers try to make the leap. Genocea will be among the first to test the waters in 2014.
This year has seen the biggest burst of biotech IPOs in a decade, a welcome turnaround from the drought years that led up to 2013. But in recent months, the market has seen more stumbles as a growing number of developers try to make the leap. Genocea will be among the first to test the waters in 2014.
Nessun commento:
Posta un commento