RocketVax raises CHF 7.2 million to advance clinical studies for its COVID-19 vaccine

Less than a year following its inception, Basel based Rocketvax has secured CHF 7.2 million in its Seed A financing to fund the pre-clinical development of its Covid-19 vaccine. Renowned institutional and private investors have funded this financing round.

Rocketvax’s seed investment stems from multiple sources. These include CHF 1.2 million from a research grant from Innosuisse, CHF 1.0 million from the Canton of Basel-Stadt, CHF 1.0 million from the University Hospital Basel. Private investors contributed CHF 4.0 million with CHF 2.0 million convertible loans.

The Basel based will use the proceeds to prepare clinical trials of its Covid-19 vaccine. RocketVax’s Covid-19 vaccine, RVX-13, is a genetically modified SARS-CoV-2 virus without the ability to replicate. The vaccine aims to increase immune system protection while generating spike-antibodies and a broad spectrum of other antibodies and T-cells. This should result in more extended protection against wild-type viruses and protect against all virus variants (mutations). Moreover, the vaccine’s stability at ambient temperature will also allow to vaccinate and protect people in Africa, Latin America, and Southeast Asia while at the same time minimizing the risk of new virus variants forming.

Vladimir Cmiljanovic, Vice-Chairman of RocketVax, explains: “The funds will be used to pay for pre-clinical proof of concept in animal models in collaboration with Prof. Christian Münz from the University of Zurich and Prof. Thomas Klimkait from the University of Basel.”

The capital will also support a pre-clinical toxicology study in animal models in collaboration with international research companies specialized for these studies, and GMP scale-up production for phase 1 and phase 2 clinical trials in humans. The latter will be conducted in collaboration with Batavia Biosciences of Leiden, the Netherlands, which specializes in viral vaccine production, as elaborated by Cmiljanovic.

RocketVax AG was founded in 2020 as a subsidiary of Swiss Rockets AG, a Swiss incubator and accelerator for Swiss startups. The company leverages the relationship between Swiss Rockets AG, the ETH Spinoff Gigabases Switzerland AG, and a team of expert scientists from the University of Basel, the University of Zurich, ETH Zurich, the University Hospital Basel, and the Swiss Institute of Tropical and Public Health in Basel.

(Press release/RAN)