Allergy Therapeutics receives $30 million for grass allergy vaccine
The funds will assist the company in restarting its Pollinex Quattro Grass allergy vaccine.
The funds, which arose from public investors, will enable the company to conduct studies of the subcutaneous immunotherapy allergy vaccine. The FDA requested that these studies be conducted to test the environmental exposure of the vaccine that will expose the test subjects to allergens. The studies will determine the safety, efficiency and appropriate dosage of the vaccine.
In 2007, a participant in a trial study stated that he or she felt numb and weak. The company halted the development of the vaccine, as the report deducted 22% from the company’s share price.
In 2012, the FDA lifted the hold. At that time, Allergy Therapeutics sought a partner for commercializing the vaccine, but the search was unsuccessful.
Regardless of the delay, Allergy Therapeutics has announced that the hold only increased the demand for its product. The company’s officials have estimated that the vaccine will be on the market by 2019.
"We have the opportunity to be the first FDA-licensed seasonal subcutaneous immunotherapy allergy vaccine and so access an estimated $2 billion market," Manuel Llobet, CEO of Allergy Therapeutics, said.