Revolving Loan Fund Highlight
Vaxin is an emerging biotechnology company developing vaccines and other biological products to address market and public health needs. The company uses proprietary technology for non-invasive delivery to the nasal passages or to the skin, and has shown proof of principle in animals and in initial human clinical studies. The company's lead programs include vaccines for Influenza, Anthrax, Avian Influenza, Tetanus, and Alzheimer. Vaxin is a tenant in the Innovation Depot in downtown Birmingham.
Through the RPCGB's Revolving Loan Fund Program, Vaxin received two large Appalachian Regional Commission loans, as well as being and was the first RPCGB Accounts Receivables loan recipient. The Accounts Receivable lending program is only for incubator tenants of the Innovation Depot and the Bessemer Business Incubation System. This program provides quick, low-cost working capital loans to small business using their receivables as collateral over a 30-day term.
Vaxin was recently awarded a $14.7 million federal grant through the National Institutes of Health for work on an anthrax vaccine. Vaxin will continue researching and developing manufacturing processes for its vaccine candidate, AdVAV, with funding from the two-year grant. The vaccine Vaxin is developing would be administered as a nasal spray and could act faster than injected vaccines.
To learn more about the Revolving Loan Fund Program and how your business might benefit, please visit the Loan Program page in the RPCGB website.
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