Genticel obtains $23.7 million for HPV vaccine development
Wellington Partners led Genticel's latest round of financing efforts. Other Genticel investors include Edmond de Rothschild Investment Partners, IDInvest Partners, InnoBio fund, IRDI and Amundi Private Equity Funds
"The commitment from Wellington Partners, one of the most reputable life science investors in Europe, is further endorsement of Genticel's therapeutic HPV vaccine development," Benedikt Timmerman, founder and CEO of Genticel, said. "The Wellington life science team members are bringing outstanding clinical development and medical expertise to our shareholder base, both from therapeutic vaccines and from cervical cancer screening."
Preventative vaccines against high risk HPV 16/18 infections saw widespread adoption in 2006. Unlike existing HPV 16/18 vaccines, ProCervix is designed to eliminate infected cells in women who have not yet developed high-grade cervical cancer or lesions.
"There are more than 90 million women in the world infected with HPV 16 and/or HPV 18 types who could benefit from this treatment, making this market a clear blockbuster opportunity," Dr. Rainer Strohmenger, general partner at Wellington Partners, said.
HPV is a virus that can be found in woman. It is the cause of cervical cancers and genital warts, which can be spread from women to men.