Icosavax Inc., a life sciences spinout from the University of Washington, closed a $100 million Series B financing round, the biotech announced Wednesday.
Icosavax, which was formed in 2018 after it emerged from the university’s Institute for Protein Design, makes vaccines using “self-assembling” virus-like particle technology developed at the institute, CEO Adam Simpson said.
The company will use the money to support Icosavax’s clinical trials for its respiratory syncytial virus (RSV) and human metapneumovirus (hMPV) vaccine programs. In addition, it will continue to pursue its Covid-19 vaccine candidate and further expand its vaccine candidate pipeline for life-threatening respiratory diseases.
“We are delighted to have attracted a top-tier investor syndicate,” Simpson said in a new release. “Based on preclinical data, we believe our vaccine candidates could offer significant protection against leading viral causes of pneumonia in older adults where no licensed vaccines currently exist.”
RA Capital Management led the round, with participation from Janus Henderson Investors, Perceptive Advisors, Viking Global Investors, Cormorant Asset Management, Omega Funds and Surveyor Capital.
Existing investors, including Qiming Venture Partners USA, Adams Street Partners, Sanofi Ventures and ND Capital, also contributed to the funding round.
Icosavax closed a $51 million Series A in October 2019, the Business Journal previously reported.
In this Series B, Icosavax included a previously announced $16.5 million in funding it received for its Covid-19 vaccine candidate, which included $10 million from the Bill & Melinda Gates Foundation.
In addition to the funding, the founder and managing partner of RA Capital Management, Peter Kolchinsky, will join Icosavax’s board of directors. Kolchinsky holds a doctorate in virology from Harvard University, according to his LinkedIn profile.
Icosavax will move its Covid-19 vaccine candidate into initial clinical studies this year.
