Aravax, a biotechnology company in our client Brandon Capital Partners' life sciences portfolio, has made significant strides in fundraising for immunotherapy for peanut allergies.
In December 2022, Aravax announced the opening of the Series B funding with US$20 million from Brandon Capital and Tenmile. The syndicate is now expanded with new investors Novartis Venture Fund, Breakthrough Victoria, Uniseed, Unisuper, and Agati Capital committing an additional US$22.2 million to assist the company achieve its fundraising target.
Aravax is at the forefront of developing PVX108, the first targeted immunotherapy for peanut allergies, a condition affecting 1-2% of people worldwide. PVX108 offers a more precise and potentially safer treatment option. The funds will expand the phase II trials and accelerate the development of PVX108.
James Hutton, Partner Transaction Solutions and head of the national Life Sciences practice led the MinterEllison team.
James Hutton commented, "Supporting Aravax and Brandon Capital Partners in this venture has been highly rewarding. Funding the new trials is a step closer to making a significant difference in the lives of children and families affected by peanut allergies. This funding highlights our strength in the life sciences sector and draws international investor interest towards these vital healthcare advancements."
