IISc-incubated vaccine tech startup raises Rs 31 crore

IISc-incubated technology startup Mynvax raises Rs 31 crore for Covid-19 warm vaccine

the company would also invest in developing new vaccine modalities, said co-founder Nadig

Representative Image. Credit: iStockPhoto

Mynvax, a vaccine technology startup at the Indian Institute of Science (IISc) which is developing a Covid-19 warm vaccine, has raised crores in funding. 

In an announcement on Monday, the startup announced that it has signed definitive agreements to raise Rs 31 crore in its Series A round of financing led by Accel. The company is developing novel recombinant vaccines for Covid-19 and human influenza. 

Dr Gautham Nadig, co-founder and executive director of Mynvax, said that in addition to expeditiously advancing its existing vaccine candidates, the firm would also invest in developing new vaccine modalities. 

He added that Mynvax would begin to build partnerships with large vaccine manufacturers to hasten the deployment of the much-needed vaccines.

Concerning the investment, Mahendran Balachandran, partner, Accel, said that “Accel is excited to lead the investment in Mynvax. We strongly believe that their platform has the potential to make a huge positive change in the global vaccine landscape for major respiratory illnesses.”

Mynvax Private Limited was founded in 2017 by Professor Raghavan Varadarajan of the Indian Institute of Science (IISc) and Dr Nadig, an alumnus of the Institute. The startup was incubated by IISc’s Society for Innovation and Development (SID).

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