NovaDigm raises $14 million to support phase 2 trial of NDV-3 vaccine

NovaDigm Therapeutics, a company that develops vaccines for fungal and bacterial infections, announced on Thursday that it has raised $14 million to begin a phase 2 clinical trial of its vulvovaginal candidiasis vaccine NDV-3.

The money was raised by varying investors, including investor RusnanoMedInvest and current investor Domain Associates. Along with using the money for a phase 2 clinical trial of NDV-3, some of proceeds will go to the development of additional antigens that can be used in vaccines to fight Candida.

"This Series B investment will support the Phase 2 trial of NDV-3 as an active immunotherapeutic for patients with RVVC a condition that affects approximately six percent of the female population between the ages of 16-55 and for whom there is a significant need to reduce recurrent infections" Timothy Cooke, NovaDigm's chief executive officer, said. "We are pleased to have Domain's continued support and to have RMI join as a new investor at this exciting time in NovaDigm's corporate development."

The NDV-3 vaccine is being developed to fight against and prevent infections that are caused by several species of the fungus Candida, which includes the strains Candida albicans and the bacterium Staphylococcus aureus. NDV-3 is the first vaccine to show protective efficacy against both fungal and bacterial pathogens.