SutroVax announced the closing of a $110 million Series D preferred stock financing to advance broadest spectrum pneumococcal vaccine candidates to prevent pneumonia in children and adults. The financing was co-led by new investors RA Capital Management and Janus Henderson Investors. All of SutroVax’s existing institutional investors, including TPG Growth, Abingworth, Longitude Capital, Frazier Health Care Partners, Pivotal bioVenture Partners, Medixci, CTI Life Sciences, Roche Venture Fund, and Foresite Capital also participated in the financing.
SutroVax’s lead vaccine candidate, SVX-24, is a preclinical 24-valent pneumococcal conjugate vaccine (PCV) that includes 11 incremental strains over and above the 13 in today’s standard of care, Prevnar 13®, including strains responsible for high case-fatality rates, antibiotic resistance, and/or meningitis. Preclinical proof of concept studies for SVX-24 evaluating the surrogate immune endpoints used for adults and children demonstrated comparable responses to the 13 common strains in Prevnar 13 and superior responses to the 23 common strains in Pneumovax®23, the non-conjugate polysaccharide-only vaccine. The pneumococcal vaccine class is the industry’s largest, accounting for over $7 billion in annual sales. These SVX-24 preclinical data have been accepted for presentation at the 12th International Symposium on Pneumococci and Pneumococcal Disease (ISPPD-12) anticipated to take place in June 2020.
The SutroVax PCV pipeline also includes SVX-XP, a PCV with an expanded breadth of coverage of at least 30 strains, including newly emerging strains responsible for invasive pneumococcal disease and antibiotic resistance. SutroVax has generated preclinical proof of concept versus the standard of care vaccines and intends to advance SVX-XP into the clinic as a future successor to SVX-24.
“Our primary mission is to deliver the best and most broadly protective vaccines to prevent pneumonia in adults and children. We are delighted to welcome respected life-science investors RA Capital Management and Janus Henderson Investors to join with our syndicate of private equity and venture capital backers, as we work to advance the most broad-spectrum pneumococcal vaccine candidates to the clinic,” said Grant Pickering, CEO and Founder of SutroVax.