US-based vaccine developer SutroVax raised $85m in a series C round yesterday that featured Roche Venture Fund, pharmaceutical firm Roche’s corporate venturing unit.
The round was led by TPG Growth and included Pivotal BioVenture Partners, the healthcare technology fund backed by property developer Nan Fung Group, Abingworth, Longitude Capital, Frazier Healthcare Partners, CTI Life Sciences, Medicxi and Foresite Capital.
SutroVax was spun out of biopharmaceutical company Sutro Biopharma in 2014, The company is developing conjugate and complex antigen-based vaccines to prevent infectious diseases.
The series C funding will be used to advance a pneumococcal conjugate vaccine candidate through mid-stage clinical development and to expand the company’s pipeline.
Heath Lukatch, partner at TPG, will join the board of directors, while Francesco de Rubertis, founding partner of Medicxi, will join as a board observer.
Additionally, SutroVax has announced a strategic partnership with pharmaceutical contract manufacturer Lonza Pharma and Biotech.
SutroVax previously raised $64m in March 2017, including $60m in a series B round co-led by Frazier Healthcare Partners and Pivotal BioVenture Partners, with participation from Roche Venture Fund, Abingworth, Longitude Capital and CTI.
A range of unnamed, existing shareholders supplied an additional $4m in funding.
Abingworth led a $22m series A round that included Roche Venture Fund, Longitude Capital and CTI Life Sciences Fund in 2015.