Early-Stage Biopharma Company Uvax Bio Chooses Delaware for $8M Investment in Next Level of Growth
Expansion of vaccine research, development and commercialization operations bringing 63 new jobs to Newark over next three years.
- Wilmington-Newark, DE-MD (1888PressRelease) October 27, 2022 - Uvax Bio LLC, an early-stage biopharmaceutical company with cutting-edge vaccine platform technology that has produced both COVID-19 and HIV-1 vaccine candidates, has chosen to grow in Newark, Delaware, where it has been headquartered since forming in 2018.
As part of its expansion, Uvax Bio plans to add 63 employees to its current five-member team. Positions will range from research associates to executive-level research directors with minimum salaries ranging from $45,000 to more than $130,000.
“Uvax Bio LLC is an innovative company in the science and technology sector, specializing in vaccine platform technology. Today’s announcement to grow in Newark shows their continued commitment to our state and workforce,” said Governor John Carney. “Uvax Bio plans to increase their employees tenfold with this expansion. Thank you to Uvax Bio for their commitment to Delaware’s rapidly growing life sciences sector.”
To accommodate its next level of growth, the company has relocated to 100 Biddle Avenue in Springside Plaza off Route 40. Plans there include renovating the site’s existing wet lab and office space into a facility ideal for achieving the company’s goal of developing vaccines that support public health and improve life.
Uvax Bio is an innovative part of Delaware’s rapidly growing life sciences sector. The company maintains vital partnerships with Newark-based, internationally known industry players such as the National Institute for Innovation in Manufacturing Biopharmaceuticals and the University of Delaware.
“New Castle County is proud to be home of another life sciences company that is providing life-changing vaccines for the world,” said New Castle County Executive Matt Meyer. “Uvax is a great example of when science and innovation merge into solutions that will save lives.”
Uvax Bio was formed to develop and commercialize next-generation vaccines to address infectious diseases that threaten global health. Uvax Bio holds an exclusive license agreement with California-based nonprofit biomedical research facility Scripps Research that covers 11 patented and proprietary 1c-SApNP® vaccines. The company’s platform technology is based on computational biology and rational design. These cutting-edge scientific tools were used to design the Uvax, an all-in-one, viruslike nanoparticle design and a one-for-all, simple manufacturing process invented by Uvax Bio co-founder and Chief Scientific Officer Jiang Zhu, Professor of Scripps Research.
The opportunity for Uvax Bio to take their two lead vaccine candidates for COVID-19 and HIV-1 into Phase 1 trials represents a major milestone for the company. While the company’s two lead candidates are entering human trials, Uvax plans to raise additional capital in order to advance other promising new vaccine candidates toward Phase 1 readiness.
During today’s meeting of Delaware’s Council on Development Finance, Uvax Bio officials presented an application for a Jobs Performance Grant of up to $1,061,955 and a Capital Expenditures Grant of up to $240,000 from the Delaware Strategic Fund. Distribution of grants from the Delaware Strategic Fund are dependent on the company meeting commitments as outlined to the CDF, which reviewed and approved Uvax Bio’s request for up to $1,301,955 in total grant funding.
“The team at Uvax Bio is passionate about our mission to design and deliver groundbreaking vaccines to address global threats from infectious disease,” said Ji Li, Ph.D., Uvax CEO. “We are very excited to build a team of talented scientific, business and administrative professionals right here in the Newark, Delaware, area!”
About Delaware Prosperity Partnership
Delaware Prosperity Partnership (choosedelaware.com) leads Delaware’s economic development efforts to attract, grow and retain businesses; to build a stronger entrepreneurial and innovation ecosystem; and to support employers in place marketing Delaware to potential employees via livelovedelaware.com. The DPP team works with site selectors, executives and developers focused on where to locate or grow a business and helps with reviewing potential sites, cost-of-living analyses and funding opportunities, including available tax credits and incentives. DPP advances a culture of innovation in Delaware, working with innovators and startups to spotlight and celebrate successes and connect them with the resources they need to succeed. DPP and its partnerships throughout Delaware support and advance the missions of companies of all sizes and sectors.
About Uvax Bio
Founded in early 2018, Uvax Bio, a spinoff vaccine company from Scripps Research, employs proprietary 1c-SApNP® platform technology developed by Dr. Jiang Zhu of Scripps Research to develop and commercialize prophylactic vaccines for the most challenging infectious diseases. Uvax Bio’s mission is working to solve the world’s infectious disease threats by combining rational antigen design and protein engineering to create viruslike particle vaccines. Its vision is to become a global leader in the vaccine industry and offer vaccine solutions for unmet public health needs.
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