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Dutch biotech firm raises $6.9 mn in China

16 April 2014 | News | By BioSpectrum Bureau

Singapore: Clinical-stage Dutch biotechnology company, Mucosis has entered into a long-term collaboration and license agreement for its vaccine administration technology with China-based Changchun BCHT Biotechnology and has raised USD6.91 million (EUR 5 million), in a new financing round.

Under the agreement with BCHT, Mucosis will receive an equity investment along with customary payments including royalties in return for a license to its SynGEM prefusion F vaccine candidate for prevention of RSV and the Mimopath platform for other disease targets within China on an exclusive basis and non-exclusively in certain other Asian countries.

Changchun BCHT Biotechnology was established in 2004 and is a 600-person biopharmaceutical enterprise engaging in research, development, production and marketing of vaccines, biologics and peptide drugs. BCHT has a well-established innovative organization led by talented researchers and supported by state-of-the-art facilities.

The management team consists of members with broad international background along with extensive experience in China's biopharmaceutical industry.

"We are pleased with BCHT joining a group of investors who share our confidence in the potential of our Mimopath technology and the proprietary SynGEM prefusion F RSV vaccine candidate. We believe that our Mimopath platform combined with BCHT's expertise in vaccine development creates a substantial opportunity in China and other parts of Asia to develop differentiated and medically relevant vaccines", said Mr. Thomas Johnston, CEO, Mucosis. "We see this partnership as a further validation of our clinical-stage platform and its potential to combat infectious diseases. Lastly, we are grateful to Link China Pharma Solutions of Cambridge, UK for their invaluable assistance in brokering this deal."

"We are delighted to form this strategic partnership with Mucosis BV to advance the RSV SynGEM vaccine program and develop other vaccine candidates based on the validated Mimopath platform technology. I believe this business relationship between our two companies will strengthen our pipeline of new vaccine products." said Dr Kong, President of Changchun BCHT Biotechnology.

In addition to BCHT, the financing round was supported by Mucosis's current investors, which include BioGeneration Ventures, MedSciences Capital, NV NOM (Investment and Development Agency for the Northern Netherlands), and Utrecht Holdings.

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