Juvaris BioTherapeutics Completes Second Close on $25 million Series B Financing
Strategic Corporate Investor Joins Syndicate
Burlingame, CA - January 27, 2010
Juvaris BioTherapeutics, Inc., a biotechnology company developing adjuvanted vaccines for infectious diseases, announced that it has completed a second close on its Series B equity financing of up to $25 million. The additional equity investment came from an undisclosed strategic corporate investor who joins SV Life Sciences and Kleiner Perkins Caufield & Byers in the round.
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, along with the Company's proprietary adjuvanted vaccine pipeline. Juvaris has shown in clinical development that its lead adjuvant, JVRS-100, produces significant T-cell mediated immune responses and improved antibody responses without evidence of toxicity. JVRS-100 is currently being studied in a 472 subject Phase 2 clinical study to demonstrate its ability to improve seasonal flu vaccines for the elderly population, where there is a significant unmet medical need. Juvaris is also advancing JVRS-100 into clinical development to improve pandemic influenza vaccines and developing a pipeline of proprietary adjuvanted vaccines that includes a HSV-2 (genital herpes) vaccine and a universal influenza vaccine.
"We are pleased to further strengthen our investor syndicate in advance of completing our ongoing Phase 2 study of JVRS-100 in mid-2010 and as we continue to advance our promising vaccine portfolio," said Grant Pickering, Juvaris President and Chief Executive Officer.
Juvaris BioTherapeutics is a clinical stage company developing adjuvanted vaccines to treat infectious diseases. The Company's lead adjuvant, JVRS-100, is a cationic lipid-DNA complex that is being developed as an adjuvant to improve the effectiveness of existing vaccines and to develop new vaccines against a variety of infectious diseases. Research indicates that the mechanism of action of JVRS-100 is distinct from other known adjuvants. The adjuvant complex self-assembles with disease-specific antigens and induces substantial antibody- and cell-mediated immune responses, particularly induction of CD4+ and CD8+ T lymphocytes. Significant immunological responses have been elicited by JVRS-100 in both prophylactic and therapeutic vaccine settings in multiple species. This platform provides the opportunity to develop many disease-specific immunotherapy products for which there are significant unmet medical needs. Juvaris is also developing JVRS-100 as a component of novel, proprietary vaccines against a variety of infectious diseases. For more information about the Company and its technology, please visit www.juvaris.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.
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.
Grant E. Pickering