Affinivax raises $120m to advance pipeline

Affinivax plans to advance its pipeline of novel Multiple Antigen Presentation System (MAPS) vaccines and immunotherapies after completing a $120 million Series B financing round.

The round was led by Viking Global Investors with participation from Bain Capital Life Sciences and Ziff Capital Partners.

This represents the first financing round to be completed since the company’s founding in June 2014, when it received an initial seed and Series A equity investment from the Bill & Melinda Gates Foundation.

The company has leveraged the initial investment, non-dilutive grant funding, and a partnership with Astellas Pharma to advance its novel MAPS vaccine technology into clinical trials.

Proceeds from the Series B financing will be used to continue advancing the company’s MAPS pneumococcal vaccine program and to advance several additional vaccine candidates targeting hospital-associated infections (HAIs) into clinical studies.

“Having built the company to over 70 employees and advanced MAPS into clinical testing in less than 5 years, we are very excited to look ahead to our next phase of growth, taking our lead pneumococcal vaccine through Phase 3 testing and bringing several additional novel MAPS vaccines and immunotherapies into clinical trials,” said Steven B. Brugger, CEO of Affinivax.

Concurrent with the Series B financing, Andrew Hack and Steven Altschuler have joined Affinivax’s Board of Directors.

Prior to joining Bain Capital, Dr Hack was the Chief Financial Officer of Editas Medicine, and a portfolio manager at Millennium Management. Prior to joining Ziff Capital, Dr Altschuler was the founder and chairman of Spark Therapeutics, and the CEO of Children’s Hospital of Philadelphia.

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