- The government grant is awarded by Flanders Innovation & Entrepreneurship (VLAIO).
- The grant will be used to accelerate the development of the company's therapeutic vaccine targeting chronic Hepatitis B.
- The non-dilutive financing builds upon the award-winning €30 million seed financing raised in 2022 and the first VLAIO grant of €2.5 million to advance the innovative vaccine platform.
Leuven, Belgium, December 12, 2023 - AstriVax is pleased to announce that it has been selected for funding by Flanders Innovation & Entrepreneurship (VLAIO). The company has received a grant of €3 million to advance its innovative technology in clinical development for one of the lead indications, chronic Hepatitis B.
Hanne Callewaert, Ph.D., CEO of AstriVax, said: "I am honored that VLAIO recognizes the potential of our candidate vaccine targeting chronic Hepatitis B. This therapeutic vaccination strategy may play a key role in the steps towards functional cure for those patients that suffer from a chronic Hepatitis infection. Our vaccine targets a huge unmet medical need with yearly over 800.000 people dying from the consequences of being chronically infected with Hepatitis B. With the support from VLAIO, we can further optimize the therapeutic potential of our vaccine platform technology in the globally recognized innovation ecosystem of Flanders."
AstriVax has been awarded a VLAIO research and development project grant, a type of funding companies can use for projects based on innovative ideas of strategic importance. Combined with the award-winning€30 million in seed capital AstriVax raised in 2022 and the first VLAIO grant awardedon the vaccine platform itself, this VLAIO grant brings the company significantly closer to making a lasting impact in the Hepatitis B field. The combination of private investment and non-dilutive government support also underscores the confidence in the company's potential to revolutionize therapeutic vaccine development.
Media Contact
Hanne Callewaert, Ph.D., CEO of AstriVax, info@astrivax.com.
About AstriVax
Founded in 2022, AstriVax NV aims to address global challenges in vaccinology with its innovative plug-and-play vaccine platform. The company develops novel prophylactic and therapeutic vaccines that are easy to produce, have reduced cold chain requirements, and offer broad and long-lasting protection against various infectious diseases. AstriVax is supported by well-known investors V-Bio Ventures, Fund+, Flanders Future TechFund managed by PMV, Thuja Capital, Ackermans & van Haaren, OMX Europe Venture Fund (Mérieux Equity Partners and Korys), BNP Paribas Fortis Private Equity, and the KU Leuven Gemma Frisius Fund.
AstriVax is located in the BioHub in Leuven. For more information, please visit www.astrivax.com.
About VLAIO
Flanders Innovation & Entrepreneurship
