Juvaris BioTherapeutics completes first close on Series B equity financing

Sep 18 2009

Juvaris BioTherapeutics, Inc., a biotechnology company developing adjuvanted vaccines for infectious diseases, announced that it has completed the first close on its Series B equity financing of up to $25 million led by SV Life Sciences (SVLS) along with existing investor, Kleiner Perkins Caufield & Byers (KPCB). In conjunction with the financing, Michael Ross, Ph.D., Managing Partner at SVLS, will join the Juvaris Board of Directors (BOD).

The funds will be used to advance Juvaris’ novel adjuvant platform of cationic-lipid DNA complexes, which are designed to significantly improve the quality and quantity of immune responses achievable with vaccines. Juvaris has shown in clinical development that its lead adjuvant, JVRS-100, produces significant T-cell mediated immune responses and improved antibody responses without toxicity. JVRS-100 is in clinical development to address unmet needs in seasonal and pandemic influenza. Juvaris is also developing its own proprietary adjuvanted vaccines, including an HSV-2 (herpes) vaccine and a universal influenza vaccine.

“The robust immunological responses seen with Juvaris’ adjuvant, JVRS-100, create a significant breakthrough opportunity to produce new and improved vaccines,” said Dr. Ross. “I look forward to working with the strong team of vaccine developers already assembled at Juvaris to rapidly advance this important technology.”

“We are pleased to have the support of SVLS and KPCB as we advance JVRS-100 into mid-stage clinical development,” said Grant Pickering, Juvaris President, Chief Executive Officer and BOD member. “In addition, Mike’s highly successful drug development experience at Genentech and track record of building strong biotech companies at SVLS will be of critical ongoing value to Juvaris."

“Juvaris’ adjuvant technology is ideally suited to enable the development of novel vaccines and improved existing vaccines to address the many unmet needs in infectious disease,” said KPCB partner, BOD member and developer of multiple licensed vaccines, Tom Monath, M.D. “We look forward to joining forces with our colleagues at SVLS to bring this technology forward.”

The remaining Juvaris BOD includes Lewis “Rusty” Williams, Ph.D., the founder and Executive Chairman of Five Prime Therapeutics and former CSO of Chiron, a leading vaccine manufacturer acquired by Novartis, and Carol Brosgart, M.D., an expert in infectious disease drug development and public health policy formerly of Gilead Sciences.

http://www.juvaris.com/