ILiAD Biotechnologies Announces $42.8M Financing Round to Advance BPZE1 Pertussis Vaccine
WESTON, Fla.--(BUSINESS WIRE)--ILiAD Biotechnologies, LLC (ILiAD), a clinical stage biotech company developing the world’s most advanced next generation pertussis vaccine, today announced the closing of a $42.8 million Class D round of financing. These funds will enable the company to conduct a Phase 2b Human Challenge study to determine if vaccination with BPZE1 prevents colonization from wild-type Bordetella pertussis infection.
The announced financing is led by Knott Partners. With the addition of the Class D financing, over $100 million in cumulative funding has now been secured for the development of BPZE1.
BPZE1 is the most advanced next generation pertussis vaccine, designed to overcome deficiencies of current vaccines, including limited durability and the inability to prevent nasopharyngeal Bordetella pertussis infections that lead to transmission, especially to vulnerable infants. BPZE1 has successfully completed four human clinical studies and at the end of 2021, the FDA provided BPZE1 with Fast Track designation.
In addition to funding continued operations, R&D and manufacturing development of BPZE1, the financing will support further clinical studies of the vaccine. The Phase 2b pertussis Human Challenge clinical study is currently enrolling volunteers and will directly measure whether ILiAD’s candidate vaccine, BPZE1, can prevent nasopharyngeal B. pertussis colonization after direct challenge with wild-type B. pertussis bacteria. In preclinical studies, BPZE1 was able to prevent B. pertussis colonization after wild-type B. pertussis challenge, while acellular pertussis vaccines were not.
"We are very pleased to close the $42.8M Class D investment which will allow ILiAD to continue to progress the development of our leading next generation pertussis vaccine,” said Keith Rubin, MD, Founder and Chief Executive Officer of ILiAD. Dr. Rubin added, “From day one, the importance of inducing mucosal immunity has been central to ILiAD’s mission to achieve global eradication of disease due to B. pertussis and it’s gratifying that key investors, public health agencies and leaders in the field of infectious disease are recognizing its pivotal role.”
BPZE1 was developed by Camille Locht, PhD and Nathalie Mielcarek, PhD at the Institut Pasteur de Lille (https://pasteur-lille.fr/en/) and French National Institute of Health and Medical Research (https://www.inserm.fr/en). ILiAD holds exclusive global rights to BPZE1 and related B-Tech™ technologies that are covered by 62 issued patents. An additional 31 patents are pending globally.
About ILiAD Biotechnologies, LLC
ILiAD Biotechnologies (http://www.iliadbio.com) is a privately held, clinical stage biotechnology company dedicated to the prevention and treatment of human disease caused by Bordetella pertussis. The company is developing and acquiring key technologies, working with leading scientists to overcome the limitations of current vaccines, investigating the impact of B. pertussis in a range of human disease, and is focused on validating its proprietary vaccines in human clinical trials.
About Knott Partners
Knott Partners, LP is a family office hedge fund that invests primarily in both private equity and publicly traded securities. The fund's General Partner is Knott Partners Management, LLC. Dorset Opportunity Fund, LP is a separate healthcare fund that is also managed by Knott Partners.
Pertussis (whooping cough) is a life-threatening disease caused by the highly contagious respiratory bacterium Bordetella pertussis. According to U.S. Centers for Disease Control and Prevention, each year pertussis affects approximately 16 million people globally, accounting for nearly 200,000 deaths. Although estimated global vaccination coverage is 84%, current vaccines have failed to control epidemics. In addition, current vaccines do not fully protect infants under age 6 months, since immunization requires multiple injections, usually at 2, 4 and 6 months.
BPZE1 is a next-generation live-attenuated pertussis vaccine designed to induce comprehensive and durable protection against B. pertussis infection (colonization) and disease (whooping cough). BPZE1 is being developed to block B. pertussis from colonizing the upper respiratory tract, protecting adults and adolescents, and potentially preventing transmission especially to infants. While ILiAD is currently focused on developing a vaccine to directly protect adults and adolescents and to indirectly protect vulnerable infants, future development aims to immunize neonates directly.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995.
In addition to historical facts or statements of current, this press release may contain forward-looking statements. Forward-looking statements provide ILiAD's current expectations or forecasts of future events. These may include statements regarding anticipated development of potential products, interpretation of clinical results, prospects for regulatory approval, outsourcing trends in the pharmaceutical industry, levels of industry research and development spending, rapid technological change, risks associated with acquisitions and investments, risks associated directly with BPZE technologies including but not limited to uncertainties of product development, and uncertainties of clinical development, dependence on third parties, competition, protection of patents and proprietary technology, potential for infringement and other statements regarding matters that are not historical fact. Some of these forward looking statements may be identified by use of words in the statements such as "estimate," "intend," or other words and terms of similar meaning. Statements in this release are not guarantees of future performance and involve certain risks, uncertainties and assumptions, which are difficult to predict. Therefore actual outcomes and results may differ materially from what is expressed in such forward-looking statements. ILiAD cautions investors not to place reliance on the forward-looking statements contained in this press release. These statements speak only as of the date of this release and ILiAD undertakes no obligations to update or review these statements, except as may be required by law.
ILiAD Biotechnologies, LLC