GPN Vaccines | GPN Vaccines Closes Oversubscribed AUD $18 million (USD $12 million) Series B1 Investment Round
Summary
Adelaide, Australia, 6th June 2024 GPN Vaccines is pleased to announce the closing of its oversubscribed Series B1 investment round, raising AUD $18 million (USD $12 million).GPN Vaccines is a clinical-stage biotechnology company developing a broad-spectrum vaccine against Streptococcus pneumoniae, the worlds foremost bacterial pathogen responsible for causing infections from otitis media to life-threatening pneumonia and sepsis in the very young and elderly. We are delighted that this new round of funding will support the further clinical testing of Gamma-PNTM and the Companys pipeline programs.Jay Kern, General Partner of Kern Capital, LLC commented We are delighted to support GPN Vaccines in furthering the clinical development of potentially the worlds first universal, serotype-independent pneumococcal vaccine. Each year S. pneumoniae causes 1-2 million deaths worldwide, killing more children than AIDS, malaria and tuberculosis combined. Prior to founding Shearwater Capital, he established the Health Communication Network and was the first external investor and a director of Wisetech Global (ASX:WTC).Kern Capital manages a diverse portfolio stretching from new ventures to established and profitable businesses across many sectors, but with a particular focus on the life sciences. We back strong management teams in companies that have the potential to become market leading businesses within their sector niche.