In search of AIDS vaccine, Theraclone scores grant funding |
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In search of AIDS vaccine, Theraclone scores grant funding
The International AIDS Vaccine Initiative is providing additional grant funding to Theraclone Sciences, the Seattle biotech startup formerly known as Spaltudaq. Theraclone first received funding from the IAVI -- a non-profit AIDS research organization backed by the Bill & Melinda Gates Foundation and others -- in 2008 as part of a step to try to develop a vaccine for the disease.
“From the blood of certain HIV-infected individuals, the Theraclone technology is able to identify HIV-specific broadly neutralizing antibodies, which is an enormous benefit to AIDS vaccine designers,” said Wayne Koff, Senior Vice President of Research and Development at IAVI, in announcing the new grant.
The amount of new funding was not disclosed. Theraclone -- one of the many early-stage biotech upstarts backed by Accelerator Corp. -- raised $29 million from Arch Venture Partners, Canaan Partners and others in 2007.
Theraclone's management includes David Fanning and Steven Gillis, former top executives at Seattle-based Corixa. It has raised $34 million to date.
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