Odense Investor Summit 2022, GlyProVac

GlyProVac Secures Major Funding from CARB-X to Advance Life-Saving Vaccine Development

Mar 22, 2024 | Articles, Biotech and Life Science, cases, News, Seed and Venture Capital

GlyProVac, a Danish life science startup based in Odense, has recently received a significant boost in funding from CARB-X, a global partnership dedicated to supporting innovative solutions in the fight against antibiotic-resistant bacteria. This investment marks a pivotal moment for GlyProVac as it continues to develop a groundbreaking vaccine aimed at combatting urinary tract infections and sepsis, potentially saving countless lives, particularly in low- and middle-income countries. 

 

GlyProVac was founded in 2018, and has now been awarded a grant of 3.2 million Danish kroner (approximately 467,000 US dollars) from CARB-X, a consortium funded by four G7 countries and three major foundations. This funding not only provides vital financial support but also marks GlyProVac’s inclusion in CARB-X’s select group of supported companies, making it only the second Danish company to achieve this distinction.

“Being part of CARB-X means having their expertise and support throughout the development of our vaccine, potentially all the way to human trials. While we must meet their expectations and achieve certain milestones along the way, their commitment goes beyond traditional funding,” says Anders Boysen, co-founder and CEO of GlyProVac.

In addition to accelerating its vaccine development efforts, GlyProVac plans to expand its focus with the new funding.

Odense Investor Summit 2022, GlyProVac

“Being part of CARB-X means having their expertise and support throughout the development of our vaccine, potentially all the way to human trials. While we must meet their expectations and achieve certain milestones along the way, their commitment goes beyond traditional funding.”

Ann Zahle Andersen

Co-founder & COO, GlyProVac ApS

A spin-out from the University of Southern Denmark

GlyProVac benefits from its close collaboration with local academic researchers. The company has access to laboratory facilities at SDU but also collaborate with partners in Holland, Belgium, Norway, and Germany. Ann Zahle points out, “For us navigating the complexities of combining proprietary and commercially valuable knowledge with academic research partnerships requires constant diligence and careful negotiation but also provides unique opportunities, not only for us, but also for the academic groups we work with.”

“It’s inspiring to witness the dedication of bio-entrepreneurs like GlyProVac in pursuing their goals. I hope their presence at the institute will inspire other researchers to explore commercial opportunities,” says Jacob Møller-Jensen, Institute Director at SDU.

 

New investors on board

Despite the significant funding from CARB-X, GlyProVac acknowledges the ongoing need to secure additional investments. CARB-X’s grant requires the company to cover at least 30% of its development expenses, prompting GlyProVac to seek further financial support from private investors.

Current investment in GlyProVac is primarily from wealthy individuals with a desire to make impacts investments in unlisted companies. GlyProVac closed its last successful round in late 2023 with an investment of more than 4 mil. Danish kroner. The company’s active involvement in the local life science ecosystem, including its participation in events like the Odense Investor Summit – Life Science, has been part of facilitating connections with such potential investors.

GlyProVac’s collaboration with CARB-X represents a significant milestone in its journey to develop life-saving vaccines. With support from CARB-X and continued investment efforts, GlyProVac is poised to make a lasting impact in global health, underscoring Denmark’s position as a hub for innovation in the life sciences.

Joost Nijhoff, Director of Invest in Odense, praised GlyProVac’s achievement and says:

Odense Investor Summit 2022, GlyProVac

“It is impressive to see such a small company join CARB-X’s exclusive portfolio. Odense’s triple helix model, where businesses, research/education, and the municipality collaborate closely, has fostered growth across sectors. It’s encouraging to see international funders recognize Odense’s potential.”

Joost Nijhoff

Director, Invest in Odense

Further information

Lone Krogsbøll

Investment Manager - Medical Cannabis & Life Science

I help foreign companies in the biotech, life science, and medical cannabis industry to establish in Odense and connect them to relevant business partners and opportunities here. My background is in health tech, but I’ve focused on the medical cannabis sector since it started in Denmark in 2018.

+45 5177 7344

loak@odense.dk

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