The €11 million Series A financing brings together Biovance Capital, the European Innovation Council (EIC) Fund and Arcano Partners’ Impacto Andalucía Innovación y Desarrollo SICC, S.A.U. Vaxdyn, a Spanish biotech company, is developing vaccines against antibiotic-resistant bacteria, one of the most urgent and fastest-growing global health threats The financing will fund the first-in-human Phase 1 clinical trial of Vaxdyn’s lead vaccine candidate, K-VAX Impacto Andalucía Innovación y Desarrollo SICC, S.A.U. is one of the funds selected by the European Investment Bank to deploy the RDI and Digital Andalucia financial instrument, financed by the ERDF programme and the Regional Government of Andalusia
SEVILLE, SPAIN – 7 Sep 2026 – Biovance Capital, the European Innovation Council (EIC) Fund and Arcano Partners’ Impacto Andalucía Innovación y Desarrollo SICC, S.A.U. have invested €11 million in Spanish biotech company Vaxdyn S.L. (“Vaxdyn”) through its Series A financing round. Biovance Capital led the round with a €4 million investment, while the fund managed by Arcano Partners invested €3.6 million.
Impacto Andalucía Innovación y Desarrollo SICC, S.A.U. (https://arcanofdiandalucia.com/) is one of the funds selected by the European Investment Bank to deploy the RDI and Digital Andalucia financial instrument, financed by the ERDF programme and the Regional Government of Andalusia through the Regional Ministry of Economy, Finance and European Funds. Arcano has developed a dedicated public funds platform specialized in the management of public funds, supported by an experienced team with a strong track record in mobilizing European and regional resources through market-based financial instruments. Through Impacto Andalucía Innovación y Desarrollo, Arcano manages €55 million earmarked for projects and/or companies linked to Andalusia, driving investment and the implementation of projects in the fields of R&D, innovation and digitalisation in this region, channelling long-term resources into equity transactions (capital increases), quasi-equity (convertible notes, participatory loans, etc.) or debt of up to 15 million euros, depending on requirements.
“We are launching this fund to reach where traditional financing cannot. The Andalusian Government’s goal is clear: no promising project with Andalusian DNA should ever fail to see the light of day due to a lack of resources,” said Carolina España, Third Vice-President of the Regional Government of Andalusia and Regional Minister for Economy, Finance and European Funds.
Vaxdyn is headquartered in Seville and is developing vaccines against dangerous antimicrobial-resistant (AMR) bacteria, including Acinetobacter baumannii, Klebsiella pneumoniae, and Pseudomonas aeruginosa. These pathogens are among the most critical threats identified by the World Health Organisation, and Vaxdyn has developed several vaccine candidates against them using its proprietary platform. AMR bacteria are already associated with an estimated 541,000 deaths annually across the WHO European Region, and 204,000 more each year in the US, with 4.95 million deaths worldwide linked to drug-resistant infections annually. Without intervention, mortality due to AMR could reach 10 million deaths per year by 2050, surpassing cancer as the world’s biggest killer.
The proceeds from this Series A financing will enable Vaxdyn to conduct a Phase 1 clinical trial for K-VAX, its most advanced vaccine candidate against Klebsiella pneumoniae and Acinetobacter baumannii. This financing round will also be complemented by additional non-dilutive support from the EIC Accelerator and CARB-X, a global public-private partnership dedicated to supporting early-stage antibacterial development.
“We are delighted to support Vaxdyn as it advances K-VAX, a potentially life-saving vaccine, towards the clinic. This marks our third investment from Fund I and our second in Southern Europe, reflecting our commitment to this region given the exceptional potential of its biotech ecosystem”, said Ricardo Perdigão Henriques, PhD, Managing Partner of Biovance Capital. “Our investment in Vaxdyn builds on a longstanding relationship with the company that started in 2021, when we first invested through our predecessor fund.”
“Antimicrobial resistance is one of the most pressing global health challenges of our time, and we look forward to supporting Vaxdyn’s clinical development of its differentiated and patented vaccine candidate, K-VAX, which has the potential to protect against drug-resistant and life-threatening bacterial pathogens, including those associated with severe antibiotic-resistant pneumonia, urinary tract infections, bloodstream infections, among other major infectious diseases”, said André Albergaria, PhD, Principal at Biovance Capital.
Cristina Reina, Managing Director, Real Estate & Public Funds at Arcano Partners, said: “Our participation in this transaction underscores Arcano Partners’ commitment to innovative companies with the potential to deliver tangible impact in areas that are critical to society. Vaxdyn is a clear example of the strength of Andalusia’s and Spain’s biotech ecosystem, and of how collaboration between private capital and public instruments can accelerate the development of high value-added solutions.”
“This funding round marks a critical step in Vaxdyn’s evolution into a clinical-stage company, allowing us to clinically validate a promising vaccine platform designed to combat antimicrobial resistance”, said Juanjo Infante, PhD, Chief Executive Officer of Vaxdyn. “We are pleased to welcome Biovance Capital as lead investor and to continue working with a strong syndicate that shares our ambition to develop vaccines against life-threatening antibiotic-resistant infections.”
About Biovance Capital
Biovance Capital is Portugal’s leading life sciences investor. The company manages Biovance Capital Fund I, a € 60 million venture capital fund backed by the European Investment Fund and the European Commission through the Portugal Tech and InvestEU programmes, the largest Portuguese pharmaceutical company BIAL, the national promotional bank Banco Português de Fomento, and private investors such as Caixa Capital, Ageas Pensões, and Fundo de Pensões EDP, in addition to other private investors from the USA and Europe. The fund invests in early-stage drug development companies across Europe, with a special focus on Southern Europe.
About Arcano
Arcano Partners founded in 2003, is an independent global firm with more than 20 years of experience in financial advisory and international asset management. Arcano currently operates across four business areas:
Asset Management, with more than €14.5 billion managed and advised since the launch of its activity in 2006, across six asset classes: Private Equity, Credit Strategies, Real Estate, Sustainable Infrastructure, Venture Capital and Aviation Finance. Arcano has a strong focus on sustainability and responsible investment and is recognised as a leading asset manager in ESG. Investment Banking, providing advisory services on M&A, refinancing, restructuring and capital markets transactions for companies across a wide range of sectors. Arcano combines sector-specialised teams with a transversal technology/digital approach. Research and Strategic Advisory, delivering differentiated economic, real estate and market analysis, as well as geopolitical and technology trend insights at both local and global levels. This analysis supports better decision-making, particularly in highly uncertain environments where the cost of mistakes can be significant and can be mitigated through high-quality analysis. Asset Financing, enabling investors to participate in the structuring of financing solutions for tangible and intangible assets in Spain.
Arcano has a team of more than 260 professionals of over 20 nationalities, with seven offices across Europe and the United States, and has become one of Europe’s leading independent firms in private markets .
About the EIB Group
The European Investment Bank Group (EIB Group) is the financial arm of the European Union, owned by its 27 Member States, and is one of the world’s largest multilateral development banks. In 2025, the EIB Group signed €100 billion in new financing and advisory services for more than 870 high-impact projects across its eight core priorities, which contribute to the EU’s strategic objectives: climate action and the environment, digitalisation and technological innovation, security and defence, territorial cohesion, agriculture and the bioeconomy, social infrastructure, global partnerships, and the Savings and Investments Union.
Beyond long-term lending for major infrastructure, the EIB Group attracts private investment for innovative high-risk companies and projects, and plays an increasingly important role in European venture debt, venture capital, guarantee and securitisation markets.
With the support of the 27 EU governments, the EIF has joined forces with institutional investors in a pan-European alliance to mobilise up to €80 billion for investment in innovative companies scaling up to become global leaders. This agreement will broaden the reach and scale of the highly successful European Tech Champions Initiative, which, since its launch three years ago, has helped create 15 European mega-funds and supported the growth of 45 companies, including 12 “unicorns”.
In Spain, the EIB Group carried out financing and investment operations totalling approximately €11 billion in 2025, complemented by an additional €2.9 billion through the Regional Resilience Fund under NextGenerationEU loans. Photographs of EIB Group representatives and headquarters, as well as logo files and B-roll video footage for media use, are available here .
About Vaxdyn
Vaxdyn is a Spanish biotech company dedicated to developing preventive vaccines against antibiotic-resistant bacteria. Headquartered in Seville, the company is advancing a proprietary platform designed to generate vaccines for prevention of diseases caused by some of the highest-priority pathogens affecting global health. Its lead candidate, K-VAX, designed to prevent diseases caused by Klebsiella pneumoniae and Acinetobacter baumannii, is ready to be evaluated in a Phase 1 clinical trial.
CEO Vaxdyn Contact
Juan José Infante
juanjo.infante@vaxdyn.com
Media Vaxdyn Contact
Leyla M. Sánchez Palancar
leyla.sanchez@vaxdyn.com
Share this Post this