CAMBRIDGE, Mass.– Affinivax, Inc. (“Affinivax”), a clinical stage biopharmaceutical company pioneering the development of a novel class of vaccines with its MAPS™ (Multiple Antigen Presenting System) platform, today announced the closing of a $226 million Series C financing, co-led by new investors Rock Springs Capital and Foresite Capital. Additional new investors included T. Rowe Price, Wellington Management, funds and accounts managed by Blackrock, Cormorant Asset Management, Perceptive Advisors, EcoR1 Capital, Surveyor Capital (a Citadel company) and Logos Capital, who were joined by existing investors Viking Global Investors, Bain Capital Life Sciences and Ziff Capital Healthcare Ventures.
“We are very pleased to welcome Rock Springs Capital, Foresite Capital, and this high-quality group of new investors to Affinivax who share our bold and global vision for the company,” said Steven B. Brugger, CEO of Affinivax. “In addition to recognizing what we have already accomplished in advancing our MAPS platform to clinical validation, their strong commitment will support our aim to advance a new class of vaccines to protect children and adults against many challenging and resistant infectious diseases.”
Proceeds from the Series C financing will be used to continue advancing the company’s MAPS vaccine pipeline for a range of infectious diseases, including its lead pneumococcal vaccine candidates and first-in-class vaccine candidates targeting healthcare-associated infections where previous vaccine approaches have not been successful.
Affinivax’s novel and proprietary MAPS technology platform is designed to enable the development of a new class of vaccines that induce a broad and robust protective immune response to two key immunogenic components – disease-relevant polysaccharides and disease-relevant proteins – in a single vaccine. Licensed from Boston Children’s Hospital, MAPS utilizes a patented biotin-rhizavidin binding approach to enable vaccine design and development. Unlike conventional conjugate vaccines, where the protective immune response is based primarily on the polysaccharide component, MAPS vaccines are designed to provide a protective immune response to both the polysaccharide and protein components.
“We are very impressed with the significant progress the Affinivax team has made in advancing its novel MAPS vaccine technology into clinical trials and achieving initial strong validation of its unique potential to create vaccines that induce both B-cell and T-cell protection,” said Kris Jenner, M.D., D. Phil., Founder and Partner at Rock Springs Capital. “We believe MAPS has the potential to represent a significant step forward in vaccine technology and could open up a new era of vaccines to target a broad range of infections, many of which do not have any effective immunization strategies available today.” Concurrent with the closing of the Series C financing, Dr. Jenner has joined Affinivax’s Board of Directors.
“Having spent many years involved in vaccine development early in my career, I am very impressed with the Affinivax team and their platform technology,” said Dorothy Margolskee, M.D., Managing Director of Foresite Capital. “Vaccines developed on their new platform have great potential to provide robust and broad immune responses to important infectious agents. I really look forward to working closely with the team to bring these important vaccine advances to the market.”
