31 Jan 2023 GPN Vaccines Closes AUD$9 million (USD$6 million) Series A3 Investment Round
Adelaide, Australia, 31st January 2023 – GPN Vaccines is pleased to announce the closing of its Series A3 investment round, raising AUD$9 million (USD$6 million).
GPN Vaccines is a clinical-stage biotechnology company developing a broad-spectrum vaccine against Streptococcus pneumoniae, the world’s foremost bacterial pathogen responsible for causing infections in the very young and elderly, from otitis media to life-threatening pneumonia and bacterial sepsis. Recently, the company announced it had commenced a first-in-human clinical trial in 50-69-year-old volunteers in Australia to evaluate its novel pneumococcal vaccine, Gamma-PNTM (Press Release, dated 16th January 2023).
The Series A3 investment round, which initially aimed to raise AUD$6.75 million (USD$4 million) exceeded its target with a total AUD$9 million (USD$6 million) being raised, with overwhelming support from current GPN Vaccines shareholders along with several new shareholders.
GPN Vaccines’ CEO, Professor Tim Hirst, said “I am truly grateful for the tremendous support of our existing shareholders and the backing of new investors in our Series A3 investment round. This has strengthened the Company’s balance sheet, extended our runway and given us the resources to comprehensively test the efficacy of Gamma-PNTM in producing antibodies that kill all serotypes of Streptococcus pneumoniae.” He further commented “Offering protection against emerging serotypes of the pneumococcus will make Gamma-PNTM a globally important breakthrough, as none of the currently licensed pneumococcal vaccines or vaccines in development can do this.”
Professor Ismail Kola, Senior Partner and Chief Scientific Officer of Forepont Capital, commented “We are excited about the value for patients of a pneumococcal vaccine that protects against the serotypes covered by existing vaccines and importantly serotypes not covered by any of the current vaccines. The GPN Vaccines team recently published a landmark paper in mBio showing that Gamma-PNTM elicited broad-spectrum, serotype-independent opsonophagocytic antibody responses in experimental animals. This new round of funding will be used to test this hypothesis in human trials. Forepont is pleased to continue our financial support with a further AUD$1.5 million (USD$1 million) investment in this Series A3 round.”
GPN Vaccines is also the recipient of a grant from the South Australian Government’s Research and Innovation Fund.
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 100 different serotypes of S. pneumoniae and the best vaccine currently on the market only protects against 20 of them. GPN Vaccines’ product, called Gamma-PN, is being developed to protect children and adults against all S. pneumoniae strains, regardless of serotype.
About Forepont Capital Partners
Forepont Capital Partners leverages strategic capital and diverse and extensive expertise to help realize and accelerate value in new science, medicines and technologies that have an impact on patients’ lives and healthcare outcomes.
Professor Tim Hirst, email@example.com, +61 420 942 824
Professor Ismail Kola, firstname.lastname@example.org, +1 (941) 323 0976