Juvaris gains new backer in second close of Series B
Juvaris BioTherapeutics has successfully lured a mystery investor into its circle of investors. The developer announced this morning that an unnamed corporate investor has jumped in, spurring a second close of a Series B that could total $25 million. The unnamed investor joins existing backers SV Life Sciences and Kleiner Perkins Caufield & Byers.
Juvaris has been developing new adjuvant technology. Its lead adjuvant, JVRS-100, is currently in a mid-stage study with 472 subjects enrolled. The trial focus is on improving the immune response in the elderly, a particularly vulnerable group which often doesn't get much protection from the seasonal vaccines on the market.
"We are pleased to further strengthen our investor syndicate in advance of completing our ongoing Phase II study of JVRS-100 in mid-2010 and as we continue to advance our promising vaccine portfolio," said CEO Grant Pickering. Kleiner Perkins helped bring in Pickering as CEO and has been particularly interested in exploring Juvaris' potential for amping up the effectiveness of pandemic vaccines.
- here's the Juvaris release