Needle-free vaccine tech wins backing of Australian investors
In a challenging environment for biotech finance, Australian needle-free treatment specialist Vaxxas has raised new money for its COVID-19 vaccine - a sign of its potential value in the growing market for seasonal coronavirus protection.
The company, which has a research base in Massachusetts, USA, raised $23 million from existing investors OneVentures and UniQuest Pty, as well as new backers.
Proceeds from the financing will be used to advance Vaxxas’ clinical programs and install its first manufacturing lines with capacity to support products through late-stage clinical studies and initial commercial production.
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