Blue Water Vaccines, Developing Universal Flu Vaccine, Completes $7m Financing Following Successful Preclinical Study

July 9, 2019 |

4 min read

Blue Water Vaccines, a company developing a universal flu vaccine based on technology developed at the University of Oxford, has closed a $7 million seed capital round led by CincyTech.

July 9, 2019 05:00 UTC

Vaccine based on pioneering mathematical models, research from University of Oxford
CincyTech leads oversubscribed financing round; company to be headquartered in Cincinnati, Ohio

CINCINNATI & OXFORD, United Kingdom--(BUSINESS WIRE)-- Blue Water Vaccines, a company developing a universal flu vaccine based on technology developed at the University of Oxford, has closed a $7 million seed capital round led by CincyTech. The round was oversubscribed, with additional participation from CincyTech-affiliated private investors. The financing follows a promising preclinical study which offered early validation of the company’s novel approach to vaccine design.

Decades after vaccines have dramatically reduced deadly infectious diseases including smallpox, diphtheria and polio, influenza remains a global public health threat. More than one billion people contract the flu annually, resulting in 3- 5 million hospitalizations and 500,000 deaths. Currently, seasonal vaccines are customized every year to protect against the flu strains that world health officials believe will be most dominant, with no guarantee of protection. As the Centers for Disease Control recently reported, the 2018-2019 seasonal flu vaccine was among the least effective in years, at 29% effective overall and just 9% in the second half of the season.

“The seasonal flu vaccine is based on arcane technology,” said Joseph Hernandez, a seasoned entrepreneurial biotech leader and CEO of Blue Water Vaccines. “Developing a single vaccine to protect against all influenza strains requires a more refined understanding of the virus and a fundamentally new approach. Our vaccine, derived from groundbreaking mathematical models and research, represents both.”

Findings by a multidisciplinary team of researchers at the University of Oxford led by theoretical epidemiologist Sunetra Gupta PhD and virologist Craig Thompson, PhD suggest flu is not as variable as previously believed. Mathematical models analyzing the way historic flu strains change over time led to the theory that the epidemic behavior of influenza is primarily determined by immune responses acting upon regions of the virus that are limited in variability. Additional research identified these regions; mice vaccinated with just four variants of the region of limited variability received immunity to all historical influenza strains.

“This work serves as a good example of how evolutionary models can have translational impact. We have gone from a prediction of a mathematical model describing how flu evolves to a blueprint for a universal flu vaccine,” said Dr. Thompson.

Blue Water Vaccines secured exclusive rights to the vaccine from Oxford University Innovation, the research commercialisation company of the University of Oxford.

“The team at Blue Water Vaccines is pursuing the holy grail of vaccines: a universal flu vaccine,” said Samuel Lee MD, Director at CincyTech. “We are pleased to support a world class team towards achieving this breakthrough.”

“CincyTech is a knowledgeable partner with a strong portfolio of human health-focused companies,” said Hernandez. “Cincinnati is an ideal location to efficiently build the company and for its track record in life science innovation.”

The capital will finance an additional preclinical study, followed by a Phase 1 trial targeted for 2020. The company will be headquartered in Cincinnati, Ohio, with a lab in Oxford, UK.

ABOUT BLUE WATER VACCINES

Using technology developed by scientists at the University of Oxford, Blue Water Vaccines is working to develop a single vaccine that protects against all influenza strains.

ABOUT CINCYTECH

CincyTech invests in undeniably better opportunities that disrupt current markets or create new markets and can be rapidly scaled for maximum impact. We provide catalytic capital and core entrepreneurial support at the earliest stage to help visionary founders transform innovation into digital and human health-focused companies. CincyTech is among the Midwest’s most active seed funds, with portfolio companies backed by coastal and global investors. CincyTech is supported by Ohio Third Frontier.

ABOUT OXFORD UNIVERSITY INNOVATION

Oxford University Innovation supports innovation activities across all University Divisions, managing technology transfer and consulting activities, and creating a world-leading innovation ecosystem, with Oxford University at its heart.

We provide access to technology from Oxford researchers through intellectual property licensing, spinout company formation and material sales, and to academic expertise through our Consulting Services team. The Investment and New Ventures team supports investors with an interest in early-stage ventures, and manages the Oxford Angels Network.

Oxford University Innovation is the highest university patent filer in the UK and is ranked 1st in the UK for university spinouts, having created over 170 new companies since 1988. In the 2017/18 financial year we completed more than 50 licenses and consulting agreements every month.