VTB Capital I2BF Innovation Partners have recently injected $6 million into biotech company Selecta Biosciences, which is working on the development of a new class of target, antigen-specific immunotherapy.
The investment was realised through a nanotechnology fund which the company manages. The deal is the first investment by VTB Capital I2BF Innovation Partners to be made in the field of biotechnology. In the future the company plans to strengthen its presence in this area, making investments in medical companies from nanotechnology-orientated funds.
Selecta Biosciences was founded in 2008 by professors of the Massachusetts Institute of Technology (MIT) and Harvard Medical School. Today the company is at the clinical trial stages in the development of a new class of specialised vaccines which can be used in the production of immunoprophylactics or immunotherapy. Selecta’s vaccines are based on their own technological platform, Synthetic Vaccine Particle (SVTP).
About VTB Capital I2BF Innovation Partners
VTB Capital I2BF Innovation Partners is a joint venture between companies I2BF Global Ventures and VTB Capital Investment Management. The latter was set up by VTB Capital of the investment business group VTB.
About I2BF Global Ventures
I2BF Global Ventures is an international management company specialising in venture investments, their strategy consists of finding and investing in promising technology companies. According to the company, since 2006 I2BF Global Ventures have made 24 deals and currently run 4 venture capital funds, with a total market capitalisation in excess of $350 million.