Eveliqure Biotechnologies today announces that further financing has been secured from Arax Capital Partners comprising the last instalment of a €1.7M total investment provided by Arax. This is complemented by further private investment from Baobá and a Swiss based family office, and totals around €0.5M.
This funding will be used to further support the Phase 1 program of Eveliqure’s vaccine candidate to prevent diarrhoeal diseases caused by Shigella and Enterotoxigenic E. coli (ETEC), and follows previous private financing and the approx. € 11M non-dilutive funding from the European Union’s Research and Innovation program Horizon2020, the Wellcome Trust, and the Austrian Research Promotion Agency, FFG.
Diarrhoeal diseases remain to this day a major cause of death and illness among children under five years of age living in low- and middle-income countries. Although usually considered as a non-life-threatening condition, diarrhoeal diseases also affect up to half of the travellers visiting resource-poor countries. Two major pathogens are responsible for up to 50% of diarrhoeal diseases, Shigella and ETEC. Eveliqure’s vaccine candidate, ShigETEC, is an orally administered vaccine that induces a serotype independent protection against Shigella and that also targets ETEC, offering a broad protection against both these pathogens.
“We are pleased to receive further support while entering the clinical trials with our cutting-edge ShigETEC vaccine. Transitioning to a clinical stage company is a very important milestone for Eveliqure in our journey developing a vaccine to prevent Shigella and ETEC diarrhoea”- said Gábor Somogyi, MD, MBA, Chief Executive Officer of Eveliqure.
“This further financing support from our current and new investors signals confidence in our approach. Developing our ShigETEC vaccine candidate represents both a very promising commercial product opportunity for travelers and is expected to deliver significant health and social benefits at a global scale” – commented Eszter Nagy MD, PhD, Co-founder and President of Eveliqure.
The ShigETEC Phase 1 clinical study will be undertaken in Hungary and is anticipated to start in early Autumn as the current COVID-19 restrictions have been lifted by the Hungarian Government.
Eveliqure Biotechnologies (http://www.eveliqure.com/) is an Austrian based biotech company that is the game-changer amongst vaccine companies, championing novel technologies to make the world safe from diarrhoea.
Eveliqure is passionate about improving the quality of life for both the poor and the privileged by providing innovative medical solutions that fight diarrhoeal diseases.
The SHIGETECVAX project has received funding from the European Union’s Horizon 2020 research and innovation programme under grant agreement No 815568.
This project has also received funding from the Wellcome Trust under award number 212399/C/18/Z.