Startup Moat Biotechnology announced the initiation of a funding round led by Cortado Ventures that aims to raise up to $20 million for continued development of the company’s intranasal vaccine against COVID-19. According to the announcement, Tetherex Pharmaceuticals has spun out MoatBio in order to develop single-cycle adenovirus vaccines based on SC-AdVax technology licensed from the Mayo Clinic.
MoatBio said that it intends to use some of the proceeds to expand the ongoing Phase 1 trial of the intranasal vaccine and that initial data from the SAD portion of the study has demonstrated that the vaccine is safe and well-tolerated and produces a strong immune response when given as a booster. The company also said that it plans to develop two more SC-AdVax vaccines against mucosal pathogens and that preclinical trials of the SC-AdVax technology have been conducted in models of various viruses and bacteria, including flu, HPV, C. difficile, and Ebola.
MoatBio President and Chief Operating Officer Russell Rother said, “Respiratory viruses like SARS-CoV-2 enter through the nasal passages, and if the viruses are encountered there, then we can significantly reduce their ability to replicate systemically within the body, where more serious viral morbidities occur. Our initial Phase 1 trial results have demonstrated not only a strong mucosal immune response but also a strong systemic response in a majority of treated subjects. The ability to vaccinate individuals intranasally or orally for many pathogens would be a game changer.”
CEO Scott Rollins commented, “Our goal is to reduce the morbidity and mortality for multiple serious infectious diseases that are currently underserved by vaccines and other treatments. Whether it is COVID-19 or another highly infectious disease like influenza, HIV or Ebola, we are confident that with the SC-AdVax technology, we can provide a new level of protection against this and future pandemics or epidemics while offering a more palatable and accessible mode of administration.”
Read the Moat Biotechnology press release.
