Prokarium received a $10 million funding for development of novel vaccine

| By | Development of Vaccines, Drug Development

Prokarium, the UK-based synthetic biology company that has developed Vaxonella, an oral, thermostable vaccine delivery platform, announced the completion of a $10 million investment round.

The new funds will enable the clinical development of new groundbreaking vaccines against Chlamydia, C.difficile and enteric fever (typhoid and paratyphoid), as well as expansion of the team for R&D in immuno-oncology. The round was led by Riyadh Valley Company, followed by Prokarium’s original investor Flerie Invest as well as Korea Investment Partners.

Riyadh Valley Company (RVC) is the venture capital arm of King Saud University and operates globally out of Riyadh, Saudi Arabia. Flerie Invest is a venture capital investor operating from Stockholm, Sweden, with investments in Europe, US and the Middle East. Korea Investment Partners (KIP) is South Korea’s largest venture capital firm operating globally from its Seoul headquarters, with other offices in Shanghai, Beijing, and Silicon Valley.

Prokarium’s oral, thermostable Vaxonella platform has many technical advantages over current injectable vaccines, including the triggering of mucosal and cellular immunity, and allows the tackling of hitherto difficult-to-prevent diseases. Furthermore, Vaxonella’s revolutionary 12-week thermostability at 40⁰C is a game changer for transportation of vaccines to remote locations and improves access to underserved markets such as homes for the elderly. Prokarium’s development pipeline also includes a vaccine against plague, being taken into a phase 1 clinical trial under a SBRI contract funded by the UK Department of Health and Social Care and managed by Innovate UK from the UK Government, paving the way for new biodefence and epidemic preparedness applications.

Prokarium’s growth will be accelerated by expanding its team including a new Head of immuno-oncology research and a VP of Business Development as well as by partnering with global biopharmaceutical companies to maximise the potential of its products and unique vector technology platform. The company aims to drive the development of thermostable, easily accessible vaccines as well as immunotherapies in a broad range of disease areas and markets in the coming years.

SOURCE: prokarium
GMP news
Pharmaceutical industry News and events. Technology transfer and contract manufacturing of medicines.