Maxvax and Luzhu are raising funds to move their respective research and development programs for recombinant herpes zoster vaccine candidates and new adjuvant products.
Chinese companies Maxvax Biotechnology and Beijing Luzhu Biotechnology are raising funds to move their respective research and development programs for recombinant herpes zoster (shingles) vaccine candidates and new adjuvant products.
Maxvax Raises $74 Million To Expand Chinese Operations
Vaccines developer Maxvax raised nearly CNY500 million (approx. $74 million) from a Series B funding round led by China Life Private Equity Investment, with support from Sherpa Investment, Hillhouse Venture Capital, Fangshizhen Capital and Xinshang Capital.
The company plans to use the money to fund multiple clinical trials in its vaccine pipeline, which includes potential treatments for herpes zoster and rotavirus for neonates and children under 5 years old. Scrip reported the vaccine is being developed to rival GSK’s Shingrix, one of its highest-grossing products.
It also wants to expand its workforce and set up a production facility in Shanghai.
“This round of funding demonstrates that shareholders value Maxvax’s team and technology, and it will assist the company in advancing clinical trials and industrializing key products. Maxvax will strive to develop better vaccines made in China with the recognition and support of investment institutions,” Dr. Dexiang Chen, founder and general manager of MaxVax, said.
Maxvax owns an adjuvant platform, a recombinant protein expression platform and an mRNA platform that are used globally. Other items under development include preventive and therapeutic vaccines for the likes of cancer, hepatitis B and allergies. Currently, the company has over 130 staff across R&D centers in different parts of China.
Beijing Luzhu Biotech To Pour 40% Of IPO Proceeds Into Herpes Zoster Vaccine
Beijing Luzhu Biotechnology, which filed for an initial public offering in Hong Kong in June, intends to use 40% of the funds it raises to develop its herpes zoster vaccine candidate LZ901, according to a report by Chinese news agency PharmaDJ.
LZ901 is its core product, which the company claims could become the first of its kind in the world with a tetrameric molecular structure. It is designed to prevent shingles in adults ages 50 years and up. The Phase II clinical trial for the drug is expected to be completed by the fourth quarter of this year, and if all goes well, Phase III will likely begin in the first quarter of 2023.
The company plans to file for a New Drug Application locally by the second quarter of 2024. Beijing Luzhu also intends to reach the United States market with Phase I/II clinical trials planned for 2023.
LZ901 is not the only product it is focusing on, as it also said it is allocating 12.2% of its IPO proceeds to K3, a core product that is a biosimilar to adalimumab. According to its website, K3 is designed to treat rheumatoid arthritis, ankylosing spondylitis, psoriatic arthritis, plaque psoriasis, ulcerative colitis and other autoimmune disorders. Other candidates in R&D include a K193 antibody injection for B-cell lymphoma, currently undergoing a dose escalation study, a K333 antibody injection for myeloid leukemia and an EK193 antibody injection for lymphoma.
