Hawaii Biotech, Inc. is a privately held biologics company focused
on vaccine research and development. The company is
targeting first world vaccines with potentially large
markets and attractive margins: a West Nile vaccine
targeting the U.S. and Canada; a seasonal influenza
vaccine and a dengue fever vaccine for travelers from
first world countries to dengue endemic areas. The Company’s
vaccine technology was featured on the cover of Nature
on January 22nd, 2004.
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Statistically significant proof-of-concept animal studies show: 100% protection for the West Nile vaccine in the well-validated golden hamster model.
Broad Pipeline
Hawaii Biotech will continue to rely on its internal
research pipeline, supported primarily by grant revenues
and supplemented by a strategic in-licensing program,
to produce additional proprietary clinical development
candidates. Additional federally funded research programs
include a dengue vaccine funded by a total of 9 million
dollar grants from NIAID; a $5.6 million NINDS SBIR
grant to support West Nile vaccine; and vaccines for
malaria, and influenza.
Funding
The Company’s progress has been financed by $8.5 million in Series A Preferred financing, $8.5 million in Series B Preferred financing, and $10 million in Series C financing, as well as $4 million in federal funding in 2003, $8 million in 2004, and a similar amount in 2005. Cardax Pharmaceuticals, Inc. was spun out from Hawaii Biotech in May of 2006.
Business Model
Hawaii Biotech will generally focus on licensing its pipeline of projects, achieving a stream of potentially profitable revenues from up-front licensing fees and milestone payments – years before FDA approval and years before traditional biotech business models.
Hawaii Biotech’s grant funding brings significant leverage to its development plan by providing: (1) an ongoing, funded source of clinical candidates; and (2) pre-clinical and clinical development funding for certain projects. Grant or contract revenue has increased from $1 million in 2002 to $8 million in 2005.
Why Hawaii?
Several reasons make Hawaii a viable place for Hawaii Biotech:
• Large University of Hawaii Research Effort
• Important Tax Credits
• Clinical Trial Center
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