-- Company Secures EUR 17.5M from European Innovation Council and EUR 15.1M from Bpifrance as part of PSCP COVID-19 --
Osivax announced today that it has received over EUR 30M in public funding from different sources to support the development of universal vaccines against coronavirus and influenza. The Company’s proprietary oligoDOM® technology enables the development of vaccines that aim to protect the body from all viral influenza strains. By targeting the nucleoprotein, a highly conserved antigen with a low mutation rate found in every flu variation, oligoDOM® has the potential to provide lasting immunity regardless of virus mutation. Osivax is deploying the same approach toward a universal coronavirus vaccine to protect against the current virus, SARS-Cov-2, and future coronavirus strains.
The European Innovation Council (EIC) has selected Osivax to receive up to EUR 17.5M in "blended financing" with grant and equity support. Specifically, Osivax was selected for a EUR 2.5M accelerator grant from the EIC, which will support the completion of the Company’s Phase 2a immunogenicity clinical trial for OVX836, its lead universal flu vaccine candidate and the early discovery phase for its universal coronavirus vaccine program. The EIC also selected Osivax for support of up to EUR 15M in equity toward the Company’s ongoing Series B fund-raising, intended to finance a large-scale OVX836 Phase 2b proof of efficacy study in 3,500 subjects and support further development of its universal coronavirus vaccine. Out of 1,400 applicants working on coronavirus-related projects, Osivax was among the 2% to successfully receive the EIC accelerator grant.
Additionally, Bpifrance has pledged EUR 15.1M as part of a Projets Structurants Pour la Compétitivité (PSPC) COVID-19 grant to support Osivax’ coronavirus vaccine program. The grant from Bpifrance is being awarded to a consortium led by Osivax, with two partner organizations which will support the clinical development phase of the Company’s universal coronavirus vaccine. Professor Odile Launay from the Cochin Vaccine Evaluation Center at the Assistance Publique Hôpitaux de Paris (AP-HP) will conduct the Phase 1 and Phase 2a trials, and Professor Behazine Combadière from Inserm will run immune analyses on human samples.
"Osivax is founded on a ground-breaking technology capable of producing a universal flu vaccine that delivers long-term protection despite naturally-occurring mutations. Our commitment to cutting time and costs associated with vaccine production while providing comprehensive protection has never been more critical than in the face of the COVID-19 pandemic which continues to profoundly threaten global health," commented Alexandre Le Verte, CEO and Co-founder of Osivax. "Similar to influenza, which leads to regular global outbreaks, COVID-19 has the potential to mutate. The ability to protect people from the current and future coronavirus strains is a tremendous opportunity for us and we are particularly thankful for this funding and the validation that it provides our science and technology moving forward."
Osivax’ mission is to prevent globally impactful infectious diseases. Leveraging its unique oligoDOM® technology platform, Osivax is developing a universal vaccine for both current and future influenza infections. The Company’s universal flu vaccine candidate, OVX836 is in Phase 2a clinical development. Osivax is leveraging the same platform technology for the development of a universal vaccine against all existing and emerging coronavirus infections. Osivax is focused on providing proof-of-concept in influenza and coronavirus, and to applying its oligoDOM® platform broadly in other infectious and immune system-associated diseases. For further information: www.osivax.com
View source version on businesswire.com: https://www.businesswire.com/news/home/20200708005055/en/
Alexandre Le Vert, CEO
+33 (0)4 37 65 55 03