Animal vaccine maker Pacific GeneTech said it has secured $10 million in equity financing to support its expansion to northwest Arkansas.
Funds will be used for a new manufacturing facility, vaccine development lab and management office in the region, where the biotech firm plans to locate its U.S. headquarters. Among the new investors are FHB Ventures, the Arkansas Development Finance Authority and Simmons Foods, the company said in a news release.
Existing investors include Whist Subholdings and PT Medion.
The company announced the expansion plans in March, but did not provide specifics on the location or cost of the project. Its website says the company currently has an office in Rogers.
Funds will be used to accelerate development and commercialization of the company's Aegis vaccine platform. Pacific GeneTech's first two Aegis poultry vaccines have been out-licensed to commercial partners, and proof-of-concept studies have been advanced for a vaccine against salmonella and E. coli in swine.
The company is also working to further development of its proprietary "Hercules" adjuvant for use in third-party vaccines.
Pacific GeneTech was founded in Arkansas in 2009 by Executive Chairman Louis Bowen, a University of Arkansas graduate, and former Gov. Jim Guy Tucker.
The firm has offices in Hong Kong and Canada. It's incorporated in the Cayman Islands, according to its website.