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Medtech darling Vaxxas launches $100m raise to fund trials

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Home-grown medtech Vaxxas, which wants to disrupt the 170-year-old method of delivering vaccines by needles with a painless patch, has launched a monster $100 million private round to bankroll clinical trials of its top-three products.

Street Talk can reveal Vaxxas has mandated Wilsons Advisory and JPMorgan to steer the raise, with the Wall Street bank on hand to field offshore investor interest. A flyer is in front of potential investors, who are being offered meetings with CEO David Hoey and chief financial officer CFO Doug Cubbin next week as well as access to the data room upon signing non-disclosure agreements.

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Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Kanika Sood is a journalist based in Sydney who writes for the Street Talk column. Email Kanika at kanika.sood@afr.com.au
Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter. Email Emma at emma.rapaport@afr.com

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Original URL: https://www.afr.com/street-talk/medtech-darling-vaxxas-launches-100m-raise-to-fund-trials-20241022-p5kk9s