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SpyBiotech raises $32.5M in Series A funding and appoints Lutz B. Giebel as Chairman to support its novel vaccine platform through accelerated clinical development
OXFORD, United Kingdom, Feb. 10, 2021 (GLOBE NEWSWIRE) -- SpyBiotech, a British biotechnology company with a novel vaccine platform technology targeting infectious diseases, cancer and chronic diseases, today announces it has raised $32.5 million in Series A equity financing and appointed Lutz B. Giebel as Chairman. The round was led by new investor Braavos Investment Advisers and joined by new investor Oxford Investment Consultants. Founding investors Oxford Sciences Innovation and GV also participated, alongside the UK Government’s Future Fund, converting a prior convertible loan into equity. Proceeds will advance the clinical development of SpyBiotech’s novel vaccine technology platform, based on its proprietary SpyCatcher/SpyTag protein “superglue” technology. SpyBiotech plans to begin a Phase I clinical study of its internal lead candidate, targeting human cytomegalovirus (HCMV), in early 2022. The company believes the platform technology has broad applicability across a number of other infectious diseases, and in a range of other areas, such as oncology, which it also plans to explore in clinical development. SpyBiotech will now build out the required scientific and operational resources. The appointment of Lutz B. Giebel as Chairman of the Board is the first step on this journey, providing strengthened governance and oversight as the company expands. Lutz has significant operational, governance and investment experience gained over the course of a 30 plus year career in biopharma in the US. He has served on the Boards of 16 biopharma companies and held several executive positions, including Managing Partner at SV Life Sciences, an international healthcare focused venture capital firm, based in San Francisco. SpyBiotech further strengthens its Board through the appointment of Andre Crawford-Brunt, General Partner, Braavos Investment Advisers. These developments follow a pivotal year for SpyBiotech, which in September 2020 signed an exclusive global licensing agreement with the Serum Institute of India (SII) for the development of a novel virus-like particle (VLP) vaccine targeting COVID-19. The vaccine candidate uses the SpyCatcher/SpyTag protein “superglue” technology to display the oronavirus spike protein on the surface of Hepatitis B surface antigen (HBsAg) VLPs. SII, the world’s largest vaccine manufacturer, initiated clinical trials of the RBD vaccine candidate in September 2020, providing initial clinical validation for SpyBiotech’s platform technology. The Series A round brings SpyBiotech’s total funding since its spin-out in 2017 from the University of Oxford, in collaboration with Oxford University Innovation, to $39 million. Lutz B. Giebel, Chairman, SpyBiotech, said: Professor Sumi Biswas, Chief Executive Officer and co-Founder of SpyBiotech, commented: Andre Crawford-Brunt, General Partner, Braavos Investment Advisers, commented: James Wong, Principal, Oxford Sciences Innovation and Board Member, SpyBiotech, said: Dr Jane Smit, Oxford Investment Consultants, said: For further information contact: Powerscourt (Public Relations)
Notes for editors About SpyBiotech SpyBiotech is a British biotechnology company with a novel vaccine platform technology to target infectious diseases, cancer and chronic diseases. Based on science developed at the University of Oxford, SpyBiotech’s novel vaccine platform is based on a proprietary protein “superglue” technology which binds antigens to vaccine delivery platforms in a way which minimises delivery risk and enhances immunogenicity and efficacy. The technology is one of the safest and most effective ways to create vaccines: cost-effective and highly scalable. This makes it ideal for use against infectious diseases in challenging environments, such as in the developing world, but also with potential application in non-infectious disease settings such as cancer. SpyBiotech has the exclusive rights from the University of Oxford to apply, commercialise and sub-license the SpyTag/SpyCatcher technology in vaccine development. The company’s lead candidate is against human cytomegalovirus (HCMV), with clinical studies planned for 2022 and the company sees a range of development opportunities in infectious diseases and beyond. In 2020, SpyBiotech signed an exclusive global licensing agreement with the Serum Institute of India for the development of a novel virus-like-particle (VLP) vaccine targeting COVID-19. SpyBiotech is supported by high quality investors including Braavos Investment Advisers, Oxford Sciences Innovation (OSI), the capital investor for the University of Oxford, and GV (formerly Google Ventures). The company has raised $39 million in funding to date. |