Vaccines Developer Maxvax Closes a Nearly CNY 500 Million Series B Round

Healthcare Author: Fuller Wang, Yuanxi Ma Editor: Fuller Wang Jul 21, 2022 04:52 PM (GMT+8)

Maxvax, a developer of innovative vaccines and new adjuvants, announced the completion of nearly CNY 500 million in Series B round of funding.

Hpv/ vaccine

China Life Private Equity Investment led this round of financing. Sherpa Investment and Hillhouse Venture Capital have made follow-up investments. Fangshizhen Capital and Xinshang Capital, two new investors, also participated in this round.

Maxvax plans to use the funds to conduct clinical trials of multiple vaccine pipelines, establish a production base in Shanghai, and expand its team. The company is dedicated to the research and development of new vaccines and adjuvants. The company has a cutting-edge adjuvant technology platform and a protein expression platform. The human vaccine R&D pipeline at Maxvax includes both preventive and therapeutic vaccines. Preventive vaccines protect against a wide range of major infectious disease strains, and therapeutic vaccines protect against rabies, hepatitis B, allergic disorders, cancer, and other diseases.

Maxvax currently has more than ten new vaccine pipelines, two of which are in the clinical stage. Several innovative vaccine products are expected to receive IND approval within the next year, and each pipeline is moving forward smoothly. Furthermore, the company has made significant progress in the upstream raw materials of animal vaccines and the R&D of innovative animal vaccines.

Dr. Dexiang Chen, Maxvax's founder and general manager, stated: "This round of funding demonstrates that shareholders value Maxvax's team and technology, and it will assist the company in advancing clinical trials and industrializing key products. Maxvax will strive to develop better vaccines made in China with the recognition and support of investment institutions."