Juvaris BioTherapeutics Announces First Close on $25 million Series B Financing
Led by SV Life Sciences and Kleiner Perkins Caufield & Byers
Michael Ross, Ph.D. joins Juvaris Board of Directors
Burlingame, CA - September 17, 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.
Juvaris BioTherapeutics is a clinical stage company developing adjuvanted vaccines to treat infectious diseases. The Company's lead adjuvant, JVRS-100, is currently in clinical development to improve the efficacy of seasonal influenza vaccines in the elderly population. The Company is also developing vaccines for HSV-2, universal flu and pandemic flu. For more information about the Company and its technology, please visit www.juvaris.com.
About SV Life Sciences
SV Life Sciences is a venture capital adviser and manager that makes selected investments in entrepreneurs and management teams. SV Life Sciences provides finance to businesses at all stages of development and across the human life sciences sector. These sectors range from biotechnology & pharmaceuticals to medical devices & instruments, to healthcare information technology and services. SV Life Sciences currently advises or manages five funds with capital commitments of approximately $1.5 billion which primarily invest amounts of between $1m and $40m in North America and Europe, but will consider innovative investments in other regions. Our team of 32 professionals has a diverse, complimentary set of skills and experience that allow us to tailor a team to work with almost any life sciences business. SVLS was established in 1993 and currently has offices in Boston, San Francisco and London. For additional information, please visit www.svlsa.com.
About Kleiner Perkins Caufield & Byers
Since its founding in 1972, Kleiner Perkins Caufield & Byers has backed entrepreneurs in over 500 ventures, including AOL, Amazon.com, Citrix, Compaq Computer, Electronic Arts, Genentech, Genomic Health, Google, Intuit, Juniper Networks, Netscape, Lotus, Sun Microsystems, Symantec, Verisign and Xilinx. KPCB portfolio companies employ more than 250,000 people. More than 150 of the firm's portfolio companies have gone public. Many other ventures have achieved success through mergers and acquisitions. The firm has offices in Menlo Park, California; Beijing, China; and Shanghai, China. For additional information, please visit www.kpcb.com.