Biotech & Health

Montgomery County Biotech Focused on Cancer, Malaria and Dengue Vaccines Raises Millions Before the End of the Year

MBS Staff

A growing biotech in Gaithersburg focused on research and development of a cancer treatment vaccine as well as malaria and dengue vaccines raised millions just before the end of the year in an additional Series A-1 round of funding.

This is the second funding round in less than a year that Gaithersburg-based VLP Therapeutics has raised. In March of this year, the company was able to secure a $16 million investment. Yesterday, the company announced it pulled in an even bigger amount of $21 million, which brings its raised amount to $37 million for the year.

The new Series A-1 round came from two new investors, Nobelpharma Co., Ltd. and MUFG Bank, Ltd., joining previous investors, Sojitz Corporation, MIYAKO Capital Co., Ltd., Mr. Robert G. Hisaoka and SK Impact Fund, LLC.

"We were fortunate enough to be able to raise funding in March to facilitate our cancer treatment vaccine R&D. This additional funding will now allow us to further accelerate our other R&D efforts in infectious diseases area as well. This means a lot as it helps us to push our scientific endeavors forward at much faster pace, enabling us to get one step closer in making a greater social impact," said Wataru Akahata, CEO and co-founder of VLP.

This year, Montgomery County has seen a record amount of venture capital investment raised by companies based in the County. This month, a record was set for the entire D.C. area when Robotic Research Group / RR.IA received its first outside funding of $228 million.