Investigator with the Midas Touch in Big Sky Country Raises $22m in A Round for Research Labs

Jul 10, 2020 | COVID-19, Inimmune, Investor Watch, News, Research Lab, University of Montana

Investigator with the Midas Touch in Big Sky Country Raises $22m in A Round for Research Labs

Dr. Jay Evans is making it rain up in Missoula, Montana: raining research money that is. TrialSite News has reported on how this exceptional individual and his team, formerly part of a GlaxoSmithKline lab in Big Sky country, transitioned to keep the research going in the area, collaboration with the University of Montana’s Center for Translational Medicine. Evans was part of the GSK lab and the University pounced on the human capital upon GSK’s departure. As part of a public-private maneuver, a spinoff called Inimmune Corp was set up to hire the GSK talent up there. In late April, the team secured a $2.5 million grant from the National Institutes of Health (NIH) and, just recently, Mr. Evans raised $22 million in Series A funding from Two Bear Capital, a new venture capital firm based in Whitefish, Montana. Dr. Evans makes good things happen.

As reported back in April upon the GSK departure up in Missoula, the University of Montana and Dr. Evans got right down to business. Now Evans’ venture, Inimmune, a biotechnology company developing immune therapies and components for more effective vaccines announced the $22 million Series A funding from Two Bear Capital, a new venture capital firm. TrialSite News provides a brief breakdown.

What will be the use of funds?

Inimmune will use the Series A investment to advance at least two late-stage pre-clinical drug candidates in oncology and allergy through Phase 1 human clinical trials.

What is Inimmune known for?

They are nationally recognized for their innovative approach to treatments leveraging the immune system, especially its development of novel adjuvants, which are compounds added to therapies to improve, or direct an immune response. Adjuvants are an important component in safe, effective vaccines. They are also working with University of Montana and working on advancing immune-based therapies for a variety of other dangerous emerging pathogens, such as antibiotic resistant infections.

Is Inimmune still partnered with the University of Montana?

Yes. They are very close. They have partnered in the urgent race to develop a vaccine against COVID-19.

Inimmune Background

Inimmune was started in 2016 by co-founders Drs. Kendal Ryter, Helene Bazin-Lee, David Burkhart and Jay Evans, along with a team of 11 experienced scientists from GlaxoSmithKline. In addition to the co-founders, Inimmune employs an experienced team of chemists, immunologists and formulation scientists with a track record of notable achievements in synthetic molecule development, immunology, and drug delivery. The company has raised more than $12 million in research grants and contracts since 2016, including a recent $2 million grant from the National Institutes of Health.

Source: PR Newswire

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