Date: 2016-01-06
Type of information: Grant
Company: Neovacs (France)
Investors: Bpifrance (France)
Amount: € 5 million
Funding type: grant
Planned used: This funding will be used to finalize clinical development and to initiate the industrialization process for the therapeutic vaccine IFNα-Kinoid. A phase IIb clinical trial is currently ongoing with IFNα-Kinoid in lupus.
Considering the low quantities of vaccines required to treat each patient, manufacturing equipment and infrastructure will be of moderate size. Therefore, Investments and project schedule are compatible with the actual scope of the company. The main investment expenses concerning the infrastructure and acquisition of equipment will begin right after the phase IIb clinical trial with IFNα-Kinoid in Lupus, which is currently ongoing. The production site will be located close to Paris and should generate between 50 and 100 new highqualified employees in the long term. Neovacs wants to be operational at the time of submission to health authorities for registration around 2020 and to supply in the future all licensing partners in their respective markets.
Others: * On January 6, 2016, Neovacs has concluded an agreement which provides non-dilutive funding of five million euros for over the next four years, in the form of grants and repayable advances. This funding decision made by The General Commission for Investment and operated by Bpifrance, is part of the program: «PIAVE- Industrial project for the future» and will be used to finalize clinical
development and to initiate the industrialization process for the therapeutic vaccine IFNα-Kinoid.
Therapeutic area: Autoimmune diseases - Dermatological diseases
