€72M from Novo´s REPAIR Impact Fund for Group B Streptococcus vaccines
MinervaX inks €72m financing deal with Novo Holdings REPAIR Impact Fund to develop a vaccine against Group B Streptococcus.
Group B Streptococcus (GBS) colonises globally about 15-25% of women and can cause life-threatening infections in newborns during the first months of life. MinervaX ApS, a Danish biotechnology company, is developing a vaccine against GBS infections and announced a major financing injection. The REPAIR Impact Fund of Novo Holdings A/S, the life science company managing the Novo Nordisk Foundations assets, published its continued funding of MinervaX with €72m. They initially invested in the vaccine manufacturer back in 2014 and remain the biggest shareholder to this day. The aim is to prepare Phase III trials for the vaccine to meet the need for the alternative to the widespread use of antibiotics and thus the spread of drug-resistant infections.
MinervaX is working towards a potential life-saving vaccine, hence making a vital contribution to the global fight against antimicrobial resistance (AMR). As the largest investor in the Company, we are proud to see the immense progress MinervaX has achieved and are delighted to see the Company approach Phase III preparations in an area of huge unmet need. This is a milestone for the REPAIR Impact Fund as the first company in its portfolio to reach such an advanced development stage, said Emmanuelle Coutanceau, Partner at Novo Holdings and Board Member at MinervaX.
Group B Streptococcus infections often results in late-term miscarriages, preterm delivery, or stillbirth, as well as sepsis, pneumonia, or meningitis in infants, all of which represent a considerable risk of severe morbidity, long-term impairment, or death. Since the launch of the REPAIR Impact Fund in 2018 DKK 0.5bn has been invested in ten companies developing promising novel anti-infective therapies across modalities, geographies, pathogens and indications. The Fund by Novo Holding aims to tackle the challenge of antimicrobial resistance where different initiatives in Europe and worldwide try to increase awareness for this ‘silent pandemic’.
