Immune Targeting Systems (ITS) Ltd. Secures An ??8.65m Series A Extension To Fund FP-01, Its Synthetic Universal Flu Vaccine Through Phase-II Studies

Immune Targeting Systems (ITS) Limited (”ITS”), common of the leading developers of synthetic vaccines for mutating viruses, announced it had secured a Series-A equity funding about extension for ?8.65m that brings the total Series A financing to ?13.15m. The company’s guide investors HealthCap (Sweden), London Technology Fund (UK), Novartis Venture Fund (US & Basel) and Truffle Capital (France) are aggregate participating. The round decision be kept open until mid-2010 for commencing potential investors to invest.

This funding will improvement ITS’s show the way candidate FP-01 through to the completion of phase-II trial impression of universal virtue studies. This vaccine holds the promise of being able to target totality potential seasonal and pandemic influenza strains and protect people from bitter influenza disease. The synthetic and thermostable FP-01 vaccine would offer a unused paradigm in flu vaccine grant and could exhibit a major breakthrough to Governments wishing to create long-term vaccine stockpiles.

Carlton Brown, CEO of ITS, commented: “This round of financing force of will give permission to the company to evaluate its flu vaccine product candidate in phase I and Phase II clinical trials and assign one’sitting share to the vaccine safety and preliminary efficacy against multiple influenza poison strains”.

Ken Powell, ITS’s Chairman commented: “This sound support of ITS and its exciting clinical programmes shows that there is funding make use of despite high quality teams and projects in 2010 and should accord. encouragement to other UK biotechnology companies”.

Florent Gros, Managing Director at Novartis Venture Fund commented: “We believe strongly in the need to augment T-cell immunity in vaccinology, and we are delighted that ITS is advancing its unique technology and lead program to clinical validation.”

Jacob Gunterberg Partner at HealthCap: “In the vaccine field this is a unique global problem solving vaccine technology and its potential to hit mutating viruses in their Achilles back of the foot is a greater breakthrough. We probably management’s philosophy of delivering milestones and managing endanger.”

Philippe Pouletty, MD, General Partner of Truffle Capital added: “We strongly believe strange technologies be able to allow vaccine protection to counter-poise multiple seasonal and pandemic flu viruses and ITS pursues a very encouraging approach”.

David McMeekin, Chairman of the London Technology Fund, said, “This to a greater distance funding is an important endorsement of ITS’sitting technology and we are delighted to discern a London-based business like this stay to bring into proximity funding from such a stalwart group of investors”.

Source
Immune Targeting Systems (ITS) Limited

February 18 2010 01:42 pm | Immune System

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