Biotech on the Rise: Mynvax Secures Fresh Funds After Funding Fast

Bengaluru-based biotech startup Mynvax just hit the gas pedal, raising Rs 21.63 crore ($2.6 million) in an extended Series A round. This comes after a nearly three-year break from fundraising, highlighting renewed investor confidence in their innovative approach to vaccines.

• Inviga Healthcare Takes the Lead:

Inviga Healthcare Fund led the charge, injecting Rs 15 crore into Mynvax. This fresh capital infusion will fuel further development of their protein subunit vaccine technology.

• Engineered Vaccines for a Healthier Future:

Mynvax specialises in this cutting-edge vaccine technology, using it to develop vaccines for influenza and even thermo-tolerant versions to combat SARS-CoV-2 and its variants.

• Strong Financials and Promising Growth:

Mynvax's revenue saw an impressive 89% jump to Rs 10.94 crore in FY23, showcasing their potential. While they haven't reported FY24 financials yet, their current valuation sits around Rs 257 crore ($31 million), indicating a promising future.