Crossovers back Affinivax in $120M series B to broaden clinical vaccine pipeline

Though it once felt it could do without a large cash infusion from VCs, Affinivax has chosen to raise $120 million in a series B round that is designed to advance a handful of preclinical vaccines in its pipeline while partner Astellas continues to fund development of its lone clinical vaccine.

The round could also expand Affinivax Inc.’s goals beyond pneumococcal and hospital-acquired infections to include oncology and COVID-19, President and CEO Steven Brugger told BioCentury...