ImmusanT secures $20 million in Series A financing
ImmusanT has raised $20 million in Series A financing from Vatera Healthcare Partners to advance development of the biotechnology company's immunotherapeutic vaccine Nexvax2, companion diagnostic and monitoring tool for celiac disease. The proceeds will fund the Nexvax2 therapeutic and diagnostic development plan to the point of demonstrating proof-of-concept. ImmusanT expects to initiate the next clinical trial in early 2012.
"ImmusanT's Nexvax2 and companion diagnostic address the rapidly growing number of patients diagnosed with celiac disease whose only option is a strict diet that eliminates gluten. At Vatera we seek to invest in therapies that fulfill unmet medical needs and offer a significant clinical benefit to patients. We believe that ImmusanT's technology has the potential to dramatically improve the quality of life for celiac disease patients," said Sundar Kodiyalam, managing director of Vatera Holdings.