Chinese Biotechs Garner Millions for Shingles Vaccine Candidate to Rival GSK's Shingrix
Summary
Chinese companies Maxvax Biotechnology and Beijing Luzhu Biotechnology are raising funds to move their respective research and development programs for recombinant herpes zoster (shingles) vaccine candidates and new adjuvant products.Vaccines developer Maxvax raised nearly CNY500 million (approx. $74 million) from a Series B funding round led by China Life Private Equity Investment, with support from Sherpa Investment, Hillhouse Venture Capital, Fangshizhen Capital and Xinshang Capital.The company plans to use the money to fund multiple clinical trials in its vaccine pipeline, which includes potential treatments for herpes zoster and rotavirus for neonates and children under 5 years old. Scrip reported the vaccine is being developed to rival GSKs Shingrix, one of its highest-grossing products.It also wants to expand its workforce and set up a production facility in Shanghai. "This round of funding demonstrates that shareholders value Maxvaxs team and technology, and it will assist the company in advancing clinical trials and industrializing key products. Currently, the company has over 130 staff across R&D centers in different parts of China.Beijing Luzhu Biotech To Pour 40% Of IPO Proceeds Into Herpes Zoster VaccineBeijing Luzhu Biotechnology, which filed for an initial public offering in Hong Kong in June, intends to use 40% of the funds it raises to develop its herpes zoster vaccine candidate LZ901, according to a report by Chinese news agency PharmaDJ.LZ901 is its core product, which the company claims could become the first of its kind in the world with a tetrameric molecular structure.