Mucosis raises €5.7m from BioGeneration et al.

The €5.7m global equity ticket features a €3.7m fund award from Wellcome Trust, a foundation that finances healthcare initiatives worldwide.

In addition, €2m was injected by Mucosis's existing shareholder base. The group includes Benelux- and Germany-based life sciences investors BioGeneration Ventures and MedSciences Capital, as well as state backers NV NOM and Northern Netherlands' Investment and Development Agency.

All have been shareholders in Mucosis since supporting its foundation in 2007 with a joint €3m injection. At the time, the biotech stated it would use its first institutional funds to take its needle-free vaccine therapy to the clinical stage; the treatment had already gone through pre-clinical tests with viral, bacterial and parasitic antigens.

In the years following that round, Mucosis continued raising funds outside the venture capital space as its vaccines underwent clinical trials. In May 2010, the biotech secured a €3m credit line for its therapy against influenza, FluGEM, from Dutch government agency Agentschap NL. This was followed by a €1m Eurostars grant in September 2012 and a €5m innovation credit line from the Netherlands Enterprise Agency in May 2015.

Over the next few months, Mucosis will invest the fresh capital in the phase-I and pahse-IIa human clinical tests for its SynGEM vaccine, used to fight respiratory syncytial virus.

Company
Founded in 2007, Mucosis develops vaccines for infectious and respiratory conditions that enter the patient's body via the nose and mouth, without the need for a needle. Its current lead therapies are SynGEM, PneuGEM and FluGEM, used to treat respiratory syncytial virus, pneumococcal bacteria-caused infections and influenza. The biotech is headquartered at the Meditech Center in Groningen.

People
Mucosis – Tom Johnston (CEO).

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• Topics
• Early-stage
• Healthcare
• Benelux
• Netherlands
• Venture