GPN Vaccines closes $10 million placement to advance Gamma-PN
The financing will fund manufacturing, testing and regulatory preparations for Phase 2 development.
GPN Vaccines has closed a fully subscribed $10 million private placement with new and existing investors. The company did not name the participants.
The proceeds will support preparations for Phase 2 development of Gamma-PN, its investigational pneumococcal vaccine. Planned work includes cGMP manufacturing, expansion of its antibody-testing laboratory and an Investigational New Drug submission to the US Food and Drug Administration.
Gamma-PN is designed to protect against pneumococcal strains without relying on a vaccine formulation tailored to individual serotypes. The company has completed four Phase 1 studies and is preparing a trial in adults aged 50 and over.
Use of funds
Manufacture cGMP batches for Gamma-PN
Expand OPA testing laboratory
Prepare FDA IND submission and Phase2 development