US-based vaccine developer Icosavax completed a $100m series B round yesterday that included pharmaceutical firm Sanofi’s strategic investment arm, Sanofi Ventures.
Investment manager RA Capital Management led the round, which was also backed by fellow new investors Janus Henderson Investors, Perceptive Advisors, Viking Global Investors, Cormorant Asset Management, Omega Funds, Open Philanthropy and Surveyor Capital.
Qiming Venture Partners USA, Adams Street Partners and ND Capital (formerly known as NanoDimension) filled out the round, having joined Sanofi Ventures in the company’s $51m series A round in October 2019.
Icosavax will put the series B funds towards advancing vaccines for bivalent respiratory syncytial virus and human metapneumovirus through their first clinical studies.
The capital will also support ongoing evaluation of a potential vaccine for covid-19 and the growth of a pipeline of vaccine candidates utilising its computationally designed virus-like particle (VLP) technology, which stems from research conducted at University of Washington’s Institute for Protein Design.
Adam Simpson, Icosavax’s CEO, said: “We are delighted to have attracted a top-tier investor syndicate who recognise the potential of our VLP technology to create more effective and durable vaccines for at-risk populations, like the elderly, where traditional vaccines have reduced efficacy.
“Based on preclinical data, we believe our vaccine candidates could offer significant protection against leading viral causes of pneumonia in older adults where no licensed vaccines currently exist.”
RA Capital founder and managing partner Peter Kolchinsky is taking a board seat at the company in connection with the deal.
