FluGen gets a $12m shot in the arm

FluGen, a biotech spinout of Wisconsin-Madison University (WMU) developing a novel universal influenza vaccine, has raised $12m in its series A.

Wisconsin Alumni Research Foundation, which acts as both WMU’s tech transfer office and an investor in its spinouts, was joined by venture firms Venture Investors and Knox, and the State of Wisconsin Investment Board in the round.

Dan Stinchcomb and Boyd Clarke, both former spinout founders who went on to have successful sales of their companies, have joined FluGen’s board of directors as part of the round.

The funds will be used to further develop FluGen’s influenza vaccine Redee Flu. The firm will soon be holding a human trial for the vaccine. Redee Flu is said to be safe by FluGen, which highlighted the vaccine’s ability to also protect against mutated strains of influenza which other vaccine currently can’t block.

Paul Radspinner, CEO at FluGen, said: “FluGen has made significant progress in the development of our REDEE FLU influenza vaccine candidate. This financing provides the resources necessary to complete preclinical testing, and to assess the safety and immune responses induced by REDEE FLU in a Phase 1 clinical trial of the vaccine.”