Virometix has successfully closed a Series B financing round, raising a total of 7.5 million Swiss francs in the process. Both existing and new private investors have invested in the company, as detailed in a press release. In combination with seed and Series A financing rounds, the biotech start-up has so far managed to secure funding in the amount of 17.8 million Swiss francs.
Virometix is developing the next generation of synthetic vaccines and immunotherapeutic drugs. These are designed to help fight respiratory diseases and cancer indications. With the fresh capital, the company is seeking, firstly, to further develop its vaccine candidate against the coronavirus (SARS-CoV-2) and, secondly, to complete Phase I clinical trials for its vaccine candidate V-306, which has been developed to combat the Respiratory Syncytial Virus (RSV) that is behind respiratory diseases.
In addition to the news regarding the financing round, the company has also announced that Axel Polack and Anna Sumeray have been elected to the Board of Directors of Virometix. Polack, a virologist, boasts long-standing experience as a biotech investor and was a partner at TVM Capital, among other firms. Sumeray is also the CEO of Virometix and has amassed more than 25 years of experience working in the field of life sciences.