BRIEF—SutroVax raises $85 million in series C round

California-based SutroVax has raised $85 million in a series C financing round led by new investor TPG Growth, with new money also from Medicxi and Foresite Capital and additional funds from existing investors.

The finance will be used primarily to advance the company's broad-spectrum pneumococcal conjugate vaccine (PCV) candidate through mid-stage clinical development.

SutroVax is also embarking on a strategic contractual relationship with Lonza Pharma & Biotech, a Swiss CMO, to manufacture its PCV program.