Halle (Saale) - Vaccine specialist Verovaccines GmbH announces the completion of its Mid-Seven-Figure Series B financing round. Together with funding from the Federal Government's GO-Bio program, the funds will be used to further validate the innovative platform technology and to further develop its portfolio of animal vaccines.
Verovaccines is developing novel, pathogen-free vaccines based on the yeast Kluyveromyces lactis. The multivalent vaccines are used to develop combination vaccines, are widely applicable against various pathogens and are cost-effective to manu-facture.
The funds from the financing round will be used to scale the manufacturing process to industry scale. In addition to the process establishment, important data on process stability, as well as qualitative and quantitative process data will be generated. Furthermore, product development will be driven forward primarily in the field of combination vaccines. Verovaccines can already rely on a good validation basis of four vaccine programs with Proof-of-Concept in the target animal. The company collaborates in vaccine development with two international pharmaceutical partners, as well as several academic institutions. Prof. Dr. Sven-Erik Behrens (CSO): "The Series B funds allow us to generate Proof-of-Concept data to validate additional poultry, pig and bovine vaccines. Furthermore, we want to achieve regulatory development in two programs."
The financing round had a volume in the mid-seven-digit range and is supported by existing investors as well as by several new investors. The consortium consists of internationally experienced investors from Germany and Switzerland.
A Weitnauer team led by Prof. Dr. Hans-Eric Rasmussen-Bonne provided comprehensive legal advice to Verovaccines GmbH in the current financing round. Since the spin-off, Weitnauer has also been advising Verovaccines on the legal aspects of its operational business, in particular in the negotiation and drafting of technology-relevant cooperation and licensing agreements.
Verovaccines GmbH is a spin-off of professor Sven-Erik Behrens, Ph.D., Hanjo Hennemann, Ph.D. and Martina Behrens, DVM from Martin Luther University Halle-Wittenberg. In addition to the experienced founders, the company has a staff of scientists with expertise in the fields of virology, molecular biology, veterinary medicine and fermentation. Several proprietary vaccine development programs are funded by the "Start-up Offensive Biotechnology", GO-Bio for short, of the Federal Ministry of Education and Research (BMBF).
Verovaccines GmbH's vaccines are based on a proprietary and patented technology platform using the milk yeast Kluyveromyces lactis. Verovaccines is using its technology to develop a product pipeline of five vaccines against pathogens in pigs, cattle and poultry.
Prof. Dr. Hans-Eric Rasmussen-Bonne, LL.M. (Lead, VC, Corporate/Berlin)
Andreas Michael, LL.M. (VC, Corporate/Berlin)
Dr. Sven Schilf (IP/Berlin)
Benedikt Mahr, LL.M. (Tax/München)