Raised $1 million and provided technical assistance to protect millions of children from deadly diseases.
Glovax Biotech protects the health of low-to-middle-income Filipino families through vaccinations at affordable rates to. By providing financial, operational, and analytical expertise together with Shujog and KKR, IIX enabled Glovax to be ready for investment.
With US$1 million credit line raised, Glovax aims to next scale its business and its social impact to provide 3.5 million more doses of vaccines to low-to-lower-middle-income Filipinos by 2018. Glovax is currently building out its network of doctors, increasing the number of vaccines it imports and distributes, and expanding its branded VaxCen clinics.
What Glovax says:
“The lessons learned from KKR and IIX gave me the confidence to be more aggressive in raising funds,” said Glovax founder and CEO, Giovanni Alingog.
“KKR and IIX showed me that raising equity now would be expensive and dilutive. Instead, we explored cheaper forms of capital. As a result, Glovax secured bank credit and is better positioned to thoughtfully grow and help more Filipino patients receive life-saving vaccines. Without this project, we may still be struggling to raise equity. Now, we are investing and growing.”