AstriVax Receives €2.5M Grant to Advance Vaccine Platform

Boosting Vaccine Development: AstriVax Secures €2.5 Million Grant to Propel Innovative Vaccine Platform

AstriVax is pleased to announce that it has been selected for funding by Flanders Innovation & Entrepreneurship (VLAIO). The company has received a grant of €2.5 million to advance its innovative technology. Founded in 2022, AstriVax NV aims to address global challenges in vaccinology with its innovative plug-and-play vaccine platform. The company develops novel prophylactic and therapeutic vaccines that are easy to produce, have reduced cold chain requirements, and offer broad and long-lasting protection against various infectious diseases. AstriVax is supported by well-known investors V-Bio Ventures, Fund+, Flanders Future TechFund managed by PMV, Thuja Capital, Ackermans & van Haaren, OMX Europe Venture Fund (Mérieux Equity Partners and Korys), BNP Paribas Fortis Private Equity, and the KU Leuven Gemma Frisius Fund.

The government grant is awarded by Flanders Innovation & Entrepreneurship (VLAIO). The grant will be used to accelerate the company’s vaccine platform.  The non-dilutive financing builds upon the award-winning €30 million seed financing raised in 2022 and demonstrates great confidence in the company’s potential.

Hanne Callewaert, Ph.D., CEO of AstriVax, said: “I am very grateful that VLAIO recognizes the potential of our vaccine platform and the strategic importance of our project for vaccines of the future. With their support, we can further optimize our technology and accelerate toward clinical validation to pave the way for commercial use. The grant also demonstrates that AstriVax is firmly embedded in the world-renowned innovation ecosystem that is Flanders. This regional context creates additional opportunities to drive our global mission forward.”

AstriVax has been awarded a VLAIO research and development project grant, a type of funding companies can use for projects based on innovative ideas of strategic importance. Combined with the award-winning €30 million in seed capital AstriVax raised in 2022, the VLAIO grant brings the company significantly closer to making a lasting impact on global healthcare with novel prophylactic and therapeutic vaccines. The combination of private investment and non-dilutive government support also underscores the confidence in the company’s potential to revolutionize vaccine development and production.

Published on : 30th May, 2023