VaxInnate, which is developing new flu vaccines, has raised $40 million in its third round of venture capital. The company is relying on its Toll-like receptor technology to develop a new generation of vaccines that are far more effective and less expensive to produce than today's vaccines. New Leaf Venture Partners led the round, joined by Canaan Partners. Existing investors HealthCare Ventures, Oxford Bioscience Partners, MedImmune Ventures, and CHL Medical Partners also participated in this round.
- see the release on the round
ALSO: Cytheris, a French biotech, has raised $30.7 million in its second round. The new round enables Cytheris to complete Phase II trials of its IL-7 program for HIV. The funds are also earmarked for the preclinical development of its new drug candidate selected from a NKT/Dendritic cell activators platform. Release