Vaxart, Inc., a San Francisco biotechnology company developing oral-delivery vaccines, has closed a $12.5 million Series B financing, led by Care Capital of Princeton NJ. The funding will be used to advance the Company's lead product, an oral vaccine for Avian influenza, through Phase I clinical trials.
"We are excited to be within a year of launching Phase I clinical trials of our potentially revolutionary platform technology, and delighted to be working with investors with the stature and experience of Care Capital," said Acting CEO Michael J. Finney, Ph.D.
As part of the Series B closing, Richard Markham and Jan Leschly of Care Capital have joined Vaxart's board. "Care Capital believes that vaccines represent an opportunity to improve health outcomes worldwide, and that Vaxart represents an opportunity to change the way vaccines are delivered," said Mr. Markham.
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