Arbovax, a startup focused on vaccine technology, has closed on $750,000 in first-round financing.

Leading the round were the Piedmont Angel Network, with its second fund. Other investors included management and undisclosed individuals.

Arbovax is looking to raise $1.5 million in all.

"The science is very sound and has demonstrated promised immunogenicity in a lab environment,” said Charlton Owensby, the Piedmont Angel Network’s due diligence chair. “The unique technology should get the attention of international biotechnology players interested in developing mosquito borne disease vaccines.”

Arbovax is seeking to develop vaccines against insect-borne viruses and is capitalizing on technology developed at North Carolina State University by Dennis Brown and Raquel Hernandez.

Targeted diseases include Dengue Fever, Japanese Encephalitis, West Nile and Yellow Fever. Initial targets are Dengue Fever and Yellow Fever.

“Malcolm Thomas, CEO of Arbovax, and his professional team have developed a realistic business plan with a strong vision that will take this technology from the lab to the market,” Owensby added.

Thomas at one time was a vice president at Stemco, now called Aldagen.

Owensby will join the Arbovax board.

"PAN Two has provided great resources and connections to allow us the opportunity to immediately hit the ground running,” Thomas said. “We secured lab space close to N.C. State and have hired two senior scientists to lead our development programs."