ImmunoBiology raises further finance for developing influenza vaccines

Cambridge healthcare company, ImmunoBiology Limited (“ImmBio”) has successfully raised funds to expand the application of its HspC™ technology platform to the development of pandemic vaccines such as influenza and SARS. 

The threat of an influenza pandemic is of serious concern and hence in the UK the government has launched a campaign to increase influenza vaccine coverage.  However, the current influenza outbreak of the Fujian strain emphasises the problem of limited cross-strain protection that is afforded by current vaccines.  In addition the current production of influenza vaccines in eggs makes it too slow to respond to pandemics.

New approaches are thus needed to develop effective pandemic vaccines. ImmBio’s proprietary technology enables the rapid production of vaccines that give broad cross-strain protective immunity and is thus ideally suited to the development of pandemic vaccines.  

The funding includes a significant equity investment by biotechnology sector specialist investor Avlar BioVentures Limited and Huw Jones will join the board of directors at ImmBio.  ImmBio was founded in May 1999 by Dr Camilo Colaco and has raised £650,000 from three venture capital sources (Generics Asset Management Limited, British Smaller Technology Companies VCT and Oxford Technology 2VCT).  In addition ImmBio has been the recipient of both  SMART feasibility and SMART Development awards by the DTI. 

Dr Colaco was previously Director of IP for the biotechnology company Quadrant Healthcare plc.  He was responsible for the development of Quadrant Healthcare’s IP portfolio that formed the basis of its successful Initial Public Offering (IPO) and full listing on the London Stock Exchange.

Camilo Colaco, ImmBio said “A very important aspect of the Avlar investment is the added value they bring with extensive experience in the Biotechnology sector and particularly in the vaccine industry. 

Alan Goodman, Avlar’s CEO said: “Avlar BioVentures looks forward to the development of ImmBio as a leading vaccine industry player.  Its business plan and the underlying science are rigorous and there is no doubting that ImmBio’s technology can be applied to meet the significant need for new and better vaccines in the healthcare industry globally.”

Notes to Editors

About ImmunoBiology Limited

ImmBio was formed to exploit advances in the emerging science of immunobiology that have now clarified the mechanisms by which the immune system recognises and responds to infectious disease pathogens.  The company is applying its HspC™ technology platform to identify vaccine candidates for clinical development as anti-infective products for the prevention and treatment of infectious diseases.  ImmBio recently completed a fundraising round to begin a viral vaccine programme to complement its bacterial vaccine programme, which has successfully identified potential TB vaccine candidates for both the prophylaxis and treatment of TB.

The increasing number of deaths from the recent outbreaks of influenza originating in the Fujian province of China has served as a timely reminder of the significant healthcare concerns associated with respiratory disease viruses such as SARS and influenza.  The threat of an influenza pandemic is of serious concern to the WHO and is the primary driver for the government campaign to increase influenza vaccine coverage.  However, the influenza outbreak of the Fujian strain emphasises the problem of limited cross-strain protection that is afforded by current vaccines. In addition the current production of influenza vaccines in eggs makes it too slow to respond to pandemics and new approaches are thus needed to develop effective pandemic vaccines.  ImmBio’s HspC™ technology enables the rapid production of vaccines that give broad cross-strain protective immunity and is thus ideally suited to the development of pandemic vaccines.  In addition HspC™ vaccines avoid the use of either live organisms or genetic material and the risks therein.

About Avlar BioVentures Limited

Avlar BioVentures Limited (www.avlar.com) manages two funds both focussed upon seed and early stage opportunities in biotechnology and healthcare.  Avlar I closed in March 1999 with total commitments of £20.7 million and has made investments in 11 companies.  Avlar II had a final close in January 2003 with a commitment of £43 million.  ImmunoBiology is the seventh investment from Avlar II.

Huw Jones gained an MA (Hons) in History at Pembroke College, Huw Jones qualified as a chartered accountant with Deloitte Haskins & Sells (now part of PricewaterhouseCoopers). He helped found the corporate finance practice which quickly became the market leaders in providing services to the Life Sciences sector - clients included Celsis, Cantab Pharmaceuticals, Antisoma plc and Gemini.  Before joining Avlar he ran his own business providing financial consultancy to technology companies.

For further information please contact:

ImmunoBiology Limited:  +44 (0) 1223 496116

Dr Camilo Colaco, CEO, Babraham Bioincubator, Babraham, Cambridge CB2 4AT

Email: camilo.colaco@immunobiology.co.uk

Avlar BioVentures Limited:   +44 (0) 1223 266799

Huw Jones, Finance Director