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Maxvax Finishes Series C Funding

HIT:1613

Recently, Chengdu Maxvax Biotechnology LLC. (hereinafter referred to as "Maxvax") announced the completion of its Series C financing round, raising nearly 300 million CNY. This round of financing was exclusively funded by Shenzhen Capital Group's Manufacturing Transformation and Upgrade New Materials Fund (referred to as "Shenzhen Capital Group").


Maxvax’s lead product in development is a recombinant shingles vaccine (CHO cell), that utilizes pioneering adjuvant technology that is designed to improve the safety and effectiveness profile compared to current licensed shingles vaccines. This vaccine candidate is poised to enter Phase III clinical trials in 2024 and is designed to promote high-level humoral and cellular immune responses against the varicella-zoster virus, preventing the onset of shingles. The market prospects for this vaccine are extensive and are expected to increase over time. A second product candidate that also incorporates Maxvax’s proprietary adjuvant technology, a recombinant Respiratory Syncytial Virus (RSV) vaccine (CHO cell), has been submitted for pre-IND evaluation, and a Phase I/II clinical trial in adults is anticipated to begin in China in 2024.


Dr. Dexiang Chen, founder and CEO of Maxvax, stated: "Over the past year, as an emerging vaccine company, Maxvax has advanced its vaccine candidates under the backdrop of a changing global economic environment and challenging industry trends. Relying on our proprietary innovative adjuvant technology, we have successfully progressed the clinical status of our lead vaccine candidates, delivering impressive results. In 2024, we expect two novel vaccine candidates to enter clinical development and two candidates to enter Phase III clinical trials. Meanwhile, the company is fulfilling its corporate responsibilities and is actively collaborating with domestic and international institutions and enterprises to share adjuvant technology and products, jointly addressing emerging infectious diseases and promoting global public health."


This announcement underscores Maxvax's dedication to pioneering innovative advancements and enhancing public health on a global scale, positioning the company as a key player in the vaccine development field for the future. With a steadfast commitment to innovation, Maxvax is not only advancing the frontiers of vaccine research and development but is also emphasizing its role as a collaborative partner in the global health community.