Virometix Secures USD 7.9 Million in Series B Round of Financing

By StartUp City | Wednesday, July 29, 2020

Virometix is developing a new generation of vaccines and immunotherapeutic drugs to prevent and treat infections and cancer.

FREMONT, CA: Switzerland-based privately held biotechnology company, Virometix, secured USD 7.9 million in a Series B equity financing round participated by existing and new private investors. The latest investment round takes the company's total raised capital to USD 18.9 million. The company will use the proceeds from the investment round to complete the phase 1 clinical trial of its lead asset V-306 in RSV (respiratory syncytial virus), advance pre-clinical development of its vaccine candidates against SARS-CoV-2, progress other research collaborations and strengthen the team.

Top 15 BioTech Startups - 2019"We are delighted with the continued support and confidence from our existing investors and very happy to have attracted interest from new investors. We are excited about the differentiation of our platform and look forward to generating positive data over the coming months," said Anna Sumeray, Chief Executive Officer of Virometix. As part of the investment round, Axel Polack and Anna Sumeray have been elected to the Board of Directors of Virometix.

Dr. Polack is a Medical Doctorate degree holder from the Albert-Ludwigs-Universität Freiburg and Habilitation (postdoctoral lecture qualification) in Virology from the Ludwig-Maximilians-Universität Munich. He has experience as a board member and a biotech investor and was a partner at TVM Capital from 2000– 2014. Sumeray has over 25 years of experience in the life sciences sector with a combination of strategic consultancy, hands-on P&L leadership, and deal transaction experience in big pharmaceutical and small biotechnology companies, globally, across Europe and within individual countries.

Virometix is developing a new generation of vaccines and immunotherapeutic drugs to prevent and treat infections and cancer. In an increasingly global world, there is a considerable medical need for vaccines to combat infectious and several chronic human diseases, including cancer. Rational molecular design, chemical synthesis, and Virometix' proprietary 'Synthetic Virus-Like Particle' platform technology allow for the rapid production and optimization of vaccine candidates with the potential to demonstrate superior properties in terms of safety, efficacy, and stability.

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