Fund News
Vaccine technology startup Mynvax raises $4.2 M from Accel, Lets Venture, others
Mynvax, a vaccine technology startup incubated at the Society for Innovation and Development at the Indian Institute of Science (IISc), has raised USD 4.2 million in a Series A funding round led by venture capital firm Accel. Lets Venture and other angel investors also participated in this round, which received the backing of its pre-Series A investors such as 1Crowd, Kotak Investment Advisors and other angel investors. The funding will be used for the clinical development of novel recombinant vaccines to fight against Covid-19 and human influenza. The company, which has developed novel vaccine candidates which are heat resistant in nature, is supported by BIRAC, a non-profit public sector enterprise. The “warm vaccine†is important in the Indian context because it removes the need for cold-chain logistics infrastructure.
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