Vaccitech Completes $168 Million Series B Financing to Advance Three Clinical Programs Through Phase 2 Results

March 31, 2021

BY Alexander Kalis

By Vaccitech

Milltrust is delighted to share that British Innovation Fund investment, Vaccitech Ltd (“Vaccitech”), a clinical-stage biopharmaceutical company engaged in the discovery and development of novel immunotherapeutics and vaccines for the treatment and prevention of infectious diseases and cancer, announced during the month that it had raised $168 million in a Series B financing. This includes $43 million in convertible loan notes previously issued by Vaccitech that converted into Series B shares.

The Series B financing round was led by M&G Investment Management (part of M&G plc), with further participation from new investors including Tencent, Gilead Sciences, Monaco Constitutional Reserve Fund, and Future Planet Capital among others. The Series B financing round was also supported by existing investors, including Oxford Sciences Innovation.

The proceeds from the financing will support the continued development of three infectious disease and immuno-oncology programs. The programs include:A Phase 1/2 clinical trial of VTP-300 in patients with chronic hepatitis B virus (HBV) infection. The first patient in the trial was dosed in February 2021.A Phase 1/2 clinical trial of VTP-200 in patients with persistent, high-risk human papillomavirus (HPV) infection.A Phase 1/2 clinical trial of VTP-850 in combination with a checkpoint inhibitor in patients with prostate cancer.

Vaccitech’s proprietary prime-boost platform combines modified simian adenoviral vectors (known as ChAdOx1 or ChAdOx2) to prime a targeted immune response with the Modified Vaccinia Ankara virus (MVA) to boost the targeted immune response against cells infected with a virus or tumor cells. Vaccitech’s heterologous prime-boost approach has been demonstrated to drive powerful immune responses, including the leading CD8+ T cell stimulation profile in humans, to date. In addition to the HBV, HPV and prostate cancer programs, Vaccitech’s pipeline includes product candidates targeting infectious disease (including MERS coronavirus and Herpes Zoster) and cancer (including non-small cell lung cancer).

“Vaccitech is aiming to address serious global public health challenges in both infectious disease and cancer with their T cell inducing immunotherapy platform,” said Jack Daniels, Chief Investment Officer of M&G plc. “We believe their innovative approach, based on foundational research performed at the Jenner Institute at the University of Oxford, could provide a solution for many serious diseases.”