11 Apr 2020 GPN Vaccines awarded $1 million from the South Australian Government
Adelaide, Australia, 11th April 2020 – GPN Vaccines is pleased to announce it has been awarded $1 million from the South Australian Government’s Research, Commercialisation and Startup Fund (RCSF) to support a first in human clinical trial on the Company’s broad-spectrum pneumonia vaccine.
Established in 2019, the RCSF is the South Australian Government’s $28 million assistance program designed to help build the state’s entrepreneurial ecosystem and reputation for research excellence. It is managed by the Department for Industry and Skills at the former Royal Adelaide Hospital site, now known as Lot Fourteen.
The Company plans to put the RCSF funding towards testing its innovative vaccine for the prevention of pneumococcal diseases in a clinical trial in adults aged 50 to 64 years, with volunteers expected to be immunised in early 2021.
This funding follows a $300,000 investment in GPN Vaccines from the South Australian Early Commercialisation Fund in 2018, supporting the development of an optimal advanced manufacturing process for scale-up production of the vaccine.
Dr Tim Hirst, GPN Vaccines’ Chairman and Chief Executive Officer, commented “We are delighted to have received the backing of the South Australian Government’s Research, Commercialisation and Startup Fund enabling us to test our new pneumonia vaccine in a world first clinical trial in Adelaide. Our vaccine is an advanced technology product with the potential to have a truly global impact.”
Dr Lauren Giorgio, GPN Vaccines’ Chief Operating Officer, said “The SA Government has been a strong supporter of GPN Vaccines from the beginning. This investment will ensure our pneumonia vaccine continues to be developed locally, supporting Adelaide’s biotechnology ecosystem.”
Minister for Health and Wellbeing Stephen Wade said South Australia has some of the finest scientists in the world and the Marshall Liberal Government is backing them with this boost in funding and support for their valuable work. “The onset of the coronavirus pandemic highlights the vital importance of vaccine research and the crucial role start-ups such as these play in protecting the health of South Australians, both now and into the future.” Minister Wade said.
GPN Vaccines needed to provide matched funding in order to be successful in it’s application to the RCSF. This was made possible thanks to the generous and ongoing support of the Company’s investors.
About GPN Vaccines
GPN Vaccines is a public (unlisted) biotechnology company developing a vaccine against Streptococcus pneumoniae, which is responsible for causing life-threatening pneumonia, bacteraemia and meningitis, as well as otitis media (middle ear infections). Each year it causes 1-2 million deaths worldwide, killing more children than AIDS, malaria and tuberculosis combined. There are now 98 different serotypes of S. pneumoniae and the best vaccine currently on the market only protects against 13 of them. Gamma-PNTM – GPN Vaccines’ new S. pneumoniae vaccine is being developed to protect children and adults against all S. pneumoniae strains, regardless of strain serotype.