Icosavax develops vaccines using engineered virus-like particles designed to display prefusion RSV and hMPV antigens and SARS-CoV-2 receptor-binding domains. Its lead RSV program IVX-121 has entered Phase 1 testing, and the bivalent RSV/hMPV candidate IVX-A12 is being readied for a Belgium clinical trial in the second half of the year. IVX-A12’s Phase 1 is designed to enroll ~100 healthy adults with multiple dose and adjuvant arms; preliminary data are expected in the first half of next year. The company’s SARS-CoV-2 candidate IVX-411 is in a Phase 1/2 study in Australia with proof-of-concept data expected in the first half of next year, while IVX-421 remains in preclinical testing. In April Icosavax closed a $100M Series B and subsequently completed an IPO that raised $182M to support clinical development. Management budgeted roughly $120M to advance IVX-A12 through Phase 2b and about $35M toward other vaccines, and says combined cash and IPO proceeds should fund operations through at least 2024. Icosavax develops computationally designed VLP vaccines intended to protect older adults from life-threatening respiratory diseases. Its lead program is a bivalent RSV/hMPV vaccine candidate built around IVX-121, which displays a stabilized prefusion F antigen (DS-Cav1) licensed from NIAID/NIH. Preclinical data indicate the VLP display induces higher and more durable neutralizing antibody titers and improved stability versus antigen alone. The company is also advancing a SARS-CoV-2 RBD VLP candidate, IVX-411, into initial clinical studies. Proceeds from the recent financing will fund IVX-121 through initial clinical studies, continued evaluation of IVX-411, and expansion of the VLP pipeline. Icosavax exclusively licensed its computational VLP technology from the University of Washington and was founded on work from the Institute for Protein Design. Icosavax is developing a virus-like-particle (VLP) vaccine platform and is advancing a COVID-19 vaccine candidate built on that platform. Open Philanthropy recommended an investment to support development of the VLP platform and the new COVID-19 vaccine. The organization notes that Icosavax’s vaccine may more effectively protect people with weakened immune responses compared with other vaccines in development. If the vaccine proves effective, Open Philanthropy’s science team believes the VLP technology could be valuable for vaccines against other viral diseases with pandemic potential. The company was founded by David Baker and Neil King. The Open Philanthropy page was reviewed by grant investigators and also reviewed by Icosavax staff. The work is described as fitting within Open Philanthropy’s scientific research focus on biosecurity and pandemic preparedness. Icosavax was founded on computationally designed self-assembling virus-like particle (VLP) technology licensed from the Institute for Protein Design at the University of Washington. The company’s lead program, IVX-121, is an RSV vaccine candidate that incorporates the stabilized prefusion F antigen (DS-Cav1) licensed from NIAID/NIH. Icosavax’s platform separates folding of individual protein subunits from assembly, enabling high-density, multivalent antigen display while remaining non-infectious. The company plans to advance IVX-121 into the clinic and apply its VLP technology to a broader class of vaccine targets with unmet medical need. Icosavax has assembled an experienced leadership team, board, and scientific advisors drawn from academia and industry. The company announced a $51 million Series A to fund advancement of its lead candidate through Phase 1b clinical studies.

Total raised

$350M

Funding rounds

5

Latest round

Equity

Latest activity

Aug 2021