Moat Biotechnology (MoatBio), a spin-out from Tetherex Pharmaceuticals, announced that it has closed a funding round of more than $6.5 million following an initial funding led by Cortado Ventures in September 2022. The company says that it intends to use the proceeds for continued development of an inhaled/intranasal COVID-19 vaccine based on the SC-AdVax single-cycle adenovirus vaccine platform licensed from the Mayo Clinic. MoatBio reported positive interim results from a Phase 1 trial of its initial intranasal vaccine in the September 2022 announcement, and the company says that it intends to do further Phase 1 testing that vaccine and plans to develop additional vaccines based on SC-AdVax.
MoatBio CEO Scott Rollins commented, “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. This first close of funding allows us to continue our important Phase 1 trial research. The ability to vaccinate individuals through needle-free delivery, including intranasal/inhaled or oral administration, not only for COVID-19, but for many pathogens, should be a game changer.”
President and Chief Operating Officer Russell Rother said, “Our goal is to prevent or 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 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.
