Aivita Biomedical, a US-based stem cell vaccine developer backed by chemicals producer SFC, raised $25m in series B-2 round from undisclosed life sciences investment firms yesterday.
Founded in 2016, Aivita is developing personalised vaccines for the treatment of cancer and the prevention of the covid-19 virus and retinal degenerative diseases.
The company will launch a skincare line in the United States this month that will pledge the proceeds of its sales towards cancer treatment.
The funding will be used to support the clinical development of Aivita’s immunotherapy programmes and the application for the commercial approval of its melanoma immunotherapy, and to fund development of a personalised covid-19 vaccine product.
Aivita closed the first tranche of the series B-2 round at $12.5m in early 2019. That tranche was led by entrepreneur Matthew Katz, who was joined by the company’s board of directors and undisclosed healthcare-focused venture capital firms.
SFC had supplied $15m in series B funding for the company in 2018, VC fund California Technology Ventures having provided $2m of series A funding two years before.