FluGen Inc., a biotechnology company developing a novel “universal” influenza vaccine, has completed a $12 million Series A financing. Venture Investors LLC, the Wisconsin Alumni Research Foundation (WARF), the State of Wisconsin Investment Board, and other new investors participated in this first institutional financing of the company, along with many of FluGen’s existing investors led by Knox LLC.
Funds raised will support the continued development of FluGen’s lead universal influenza vaccine candidate, REDEE FLU ™, including completion of an initial human clinical trial and the preparation of a quadrivalent vaccine candidate. REDEE FLU is a single replication live influenza virus vaccine that can infect cells, express influenza RNA and proteins, but does not produce any new virus. REDEE FLU is safe, induces potent immune responses and protects against mismatched influenza strains in multiple preclinical animal models. Current influenza vaccines fall short in their ability to protect against influenza in the elderly and the ability to protect against influenza caused by strains that have mutated, or “drifted,” from those contained in the yearly vaccine. Last year’s influenza outbreak in the U. S. was caused by such a “drifted” strain, leading to low vaccine efficacy, record numbers of hospitalizations, particularly of the elderly, and epidemic numbers of deaths.
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