GPN Vaccines, Inc. closed a fully subscribed US$10 million private placement. The clinical-stage biotechnology company is developing broadly protective bacterial vaccines. New and existing investors participated in the financing.
Use of proceeds
The funds will support Phase 2-enabling work for Gamma-PN. This includes cGMP batch manufacturing and expansion of its opsonophagocytic activity testing laboratory. The company also plans to submit an Investigational New Drug application to the U.S. Food and Drug Administration.
Clinical progress
Gamma-PN has completed four Phase 1 clinical studies. Those studies showed safety, tolerability, and immunogenicity in different adult populations. Data also indicate the vaccine generates functional OPA antibodies that kill bacteria across multiple serotypes.
How Gamma-PN works
Gamma-PN is designed to be a serotype-independent pneumococcal vaccine. It targets protein antigens shared across all pneumococcal strains. This approach may offer protection against more than 100 existing serotypes and future ones.
GPN is preparing a multinational, randomized, controlled, double-blinded, dose-ranging study. The study will evaluate safety, tolerability, and immunogenicity of a single dose in adults aged 50 and older. It will mark the next step toward Phase 2 clinical development.