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Affordable vaccines to be reality: Irish startup Normax raises €300M to launch IPO

Normax Founder
Image credits: Normax

Normax Biomed Limited (Normax), an mRNA vaccine R&D and manufacturing company headquartered in Ireland, has raised €300 million in pre-IPO capital. The investment came from a cornerstone investor for the R&D and manufacturing of mRNA vaccines.

Manufacturing facility in Ireland

The investment puts it on the path to IPO and the development of affordable pan-Coronavirus mRNA vaccine boosters. The company is planning an initial public offering (IPO) with a dual listing on the London Stock Exchange and the SIX Swiss Exchange with digital Normax subsidiary company listings on SIX Digital Exchange (SDX). This capital will help drive down the cost of vaccines, save more lives and support long-term sustainable pandemic preparedness.

Besides this, Normax plans to use the €300 million capital commitment to scale up mRNA Vaccine R&D for COVID, and Tuberculosis (TB), HIV and Malaria. It is set to rollout five modular Vax Factory manufacturing facilities. Notably, the first facility will be located in Cork, Ireland.

“Normax is on a social mission to redress global healthcare inequity caused by the profiteering pharmaceutical industry. Following the recent €300 million capital commitment in Normax, we plan to deliver research and development of mRNA vaccines for COVID, TB, HIV, and Malaria and deploy modular mRNA Vaccine Factories, ultimately in up to 100 locations. In the event of another public health emergency we are also committed to delivering future mRNA vaccines in 100 days, to help ensure that COVID-19 is the last pandemic we will all suffer through,” said Peter A. Jensen, CEO and Chairman of Normax.

Disrupts pharmaceutical industry

Normax was founded by Peter A. Jensen in 2020 in Ireland. It is on a social mission to redress the global healthcare inequity caused by the profiteering pharmaceutical industry. World governments and health organisations are paying too high a price for mRNA vaccines and that needs to stop.

As per the WHO COVID vaccine equity programme, 56 countries around the world, especially in Africa are effectively excluded from the global vaccine marketplace due to the large costs driven by the pharmaceutical industry.

The company aims to disrupt the pharmaceutical industry by planning to charge just $4 per dose for large-scale delivery of mRNA vaccines. Currently, the leading COVID mRNA vaccine producers charge governments over $10 per dose.

Further, Normax believes that future viral outbreaks such as coronavirus are inevitable. The company has developed a scalable R&D product development strategy for a Universal Coronavirus mRNA Vaccine (UCV-mRNA) that could help solve the urgent global need for effective COVID-19 boosters.

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