Denmark-based biotechnology company MinervaX ApS announced the completion of a €54M upsized financing. MinervaX aims to use the funding to boost the development of a novel prophylactic vaccine against Group B Streptococcus, or GBS.
The vaccine’s development is critical as GBS is a leading cause of life-threatening infections in newborns and adverse pregnancy outcomes. Available prophylactic measures are insufficient against GBS, which spurs the urgent need to develop a new GBS vaccine.
This financing will enable MinervaX to develop its novel GBS vaccine towards Phase III clinical trials in 2024.
The funding included investment from new investors EQT Life Sciences and Orbimed. Existing investors Novo Holdings, Pureos Ventures, Sanofi Ventures, Trill Impact Ventures, Adjuvant Capital, Wellington Partners, Industrifonden, Sunstone LifeScience Ventures, and LF Invest, also participated in this round.
Vincent Brichard of EQT Life Sciences and Tal Zaks of OrbiMed will join the MinervaX Board of Directors.
About Group B Streptococcus
According to the company statement, GBS is responsible for nearly 50 per cent of all life-threatening infections in newborns. Around 15 to 25 per cent of women are at risk of immediate GBS infection, in which they pose the risk of transmitting the bacteria to their child in the womb during birth or during the first months of the newborn’s life.
GBS infection in mothers may lead to late abortions, premature delivery, and stillbirth. Newborn children infected with GBS may suffer sepsis, pneumonia, or meningitis that may lead to severe morbidity, long-term disability, and death.
The only preventative strategy against GBS involves intravenously delivered prophylactic antibiotics. Yet, this strategy is plagued with problems, from the inability to prevent in-utero and late-onset GBS infections to resource unavailability in resource-limited settings.
Health advocacy groups and institutions, including Group B Strep Support, Group B Strep International, and the World Health Organisation (WHO), have recognised the need to develop a safe and effective GBS vaccine and awareness building of the bacteria’s health implications.
Current state of GBS vaccine development
MinervaX is currently developing two Phase II clinical trials in 470 pregnant persons across Denmark, the United Kingdom, Uganda, and South Africa. Initial reports have been promising, where the vaccine is highly immunogenic, has an acceptable safety profile, and is capable of activating functional antibodies.
Details related to clinical trials by MinervaX can be found on Clinical Trial’s website under the identifiers NCT04596878 and NCT05154578. MinervaX is also progressing with Phase I development of its novel GBS vaccine in Older Adults, under identifier NCT05782179.
Vincent Brichard, Venture Partner EQT Life Sciences, says, “EQT Life Sciences is thrilled to take an active part in the MinervaX prophylactic vaccine against GBS with the hope to save newborns’ lives. We are impressed by the clinical data achieved so far, the quality of the team, and the near-term milestones enabling MinervaX to start a registration trial.”
Tal Zaks, Partner at OrbiMed, says, “We recognise the unmet need for better protection against GBS disease for vulnerable populations and the potential for MinervaX’s vaccine to provide best-in-class efficacy. I look forward to working with the MinervaX team to support the full development of this programme.”
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