Immunotherapy biotech company Maxvax Biotechnology, based in Chengdu, has announced the successful closure of a convertible bonds financing round, raising RMB 200 million (USD 27.4 million). The financing was subscribed to by the Shenzhen Capital Group Manufacturing Industry Transformation and Upgrading New Materials Fund, highlighting the investor’s confidence in Maxvax’s innovative vaccine development.
Investment to Boost R&D and Production Capacity
The proceeds from this financing will be strategically allocated to support the ongoing research and development of Maxvax’s innovative adjuvant platform. This technology is crucial for enhancing the effectiveness of vaccines and is a key component of the company’s product pipeline.
Expansion of Production Facilities and Clinical Trials
Additionally, the funds will be used to implement new production capacity in the innovative adjuvant workshop, ensuring that Maxvax can meet the growing demand for its vaccines. The company is also progressing with Phase III clinical studies for its recombinant herpes zoster vaccine and Phase II and III clinical studies for its recombinant respiratory syncytial virus vaccine.
Preclinical Development and International Cooperation
Maxvax is also dedicating resources to the preclinical research and development of multiple innovative vaccine pipelines. The company is looking to the future, with plans for international cooperation that will further advance its mission to create cutting-edge immunotherapies and vaccines.-Fineline Info & Tech
