Drug development financing for InDevR and DeuterOncology
26 Jan 2023
Vaccines and biotherapeutics solutions provider InDevR has announced it has raised $9 million in series B financing from two investors.
Some US$4 million has come from Adjuvant Capital with the other US$5 million from the food and drink sector in vitro diagnostics and microbiological quality control solution provider bioMérieux.
Adjuvant Capital Managing Partner Glenn Rockman pointed out that InDevR had successfully developed critical quality attribute and QC tools for pneumococcus, polio, measles and rubella vaccines, as well as for mRNA vaccines
The investment will underwrite commercial expansion of InDevR’s products and development of new reagent kits for its VaxArray platform. Additionally, bioMérieux Senior Vice President of Pharma Quality Control Michael Reynier joins the InDevR board of directors, with his company becoming exclusive European VaxArray portfolio distributor.
bioMérieux’s expertise is in the application of immunoassays to vaccine production, while VaxArray’s microarray technology offers specific recognition and quantification of antigens, antibodies or nucleic acids, including mRNA.
Reynier explained: “We quickly recognised the high quality of InDevR's products and team, and realized that we share a common vision and mindset. This partnership reflects our desire to expand our offerings with high value-added solutions for pharmaceutical companies.”
Liege, Belgium : Clinical-stage drug development company DeuterOncology has closed its €5.65 million ($6.1M) Series A financing, which features previous investor Newton Biocapital and new backers Noshaq and Investsud Tech.
This funding will enable the company to start the phase I clinical study for its improved MET kinase inhibitor DO-2, now being developed for its potential therapy use for lung cancer.
Timothy Perera, founder and CEO of DeuterOncology, said: “We are grateful for the continued guidance and financial support of Newton Biocapital as well as the new investments from Noshaq and Investsud Tech.
“This new funding will enable us to translate the strong preclinical data package into the clinic and validate DO-2 as a best-in-class MET kinase inhibitor, as well as to identify a recommended phase II dose."