Navigation Links
Enobia Raises US$50M from Current Investors in Series C Financing

MONTREAL, Aug. 10 /PRNewswire/ -- Enobia Pharma, an emerging biotech company focused on developing novel therapeutics for serious bone disorders, today announced that it raised US$50 million from its current investors in a Series C financing. The proceeds will be used primarily to fund the ongoing development program for ENB-0040, Enobia's enzyme replacement therapy (ERT) for hypophosphatasia (HPP), a rare and potentially deadly genetic bone disorder for which there is no currently approved therapy. In addition, a portion of the proceeds will be used to fund an unspecified development program.

Participants in the financing include OrbiMed Advisors LLC ("OrbiMed") of New York, CTI Life Sciences Fund of Montreal ("CTI"), the Fonds de Solidarite FTQ, Desjardins Venture Capital and Lothian Partners. All previously participated in the CDN$40.1M Series B financing in August 2007.

"Enobia and our collaborators have been enormously pleased by the early clinical results in infants with severe hypophosphatasia. We are fortunate to have the ongoing support of knowledgeable investors helping the Company to advance the ENB-0040 development program," said Robert Heft, PhD, President and CEO of Enobia. "This new round of financing will provide the Company with sufficient capital to fund our activities through the first half of 2011 and to reach important clinical and manufacturing milestones."

"This financing underscores our enthusiasm for the potential of ENB-0040 in patients with HPP," said Jonathan Silverstein, Enobia Chairman and General Partner of OrbiMed. "We're pleased to build on our existing relationship with this team of scientists and management who are dedicated to finding treatments for this and other devastating rare bone disorders."

Six month safety and efficacy results of Enobia's Phase I/II study of ENB-0040 in infants with the severe form of HPP will be presented at the 31st Annual Meeting of the American Society for Bone and Mineral Research ( in September by Michael P. Whyte, M.D., Medical/Scientific Director of the Center for Metabolic Bone Disease and Molecular Research at Shriners Hospitals for Children in St. Louis.

About ENB-0040

ENB-0040, a subcutaneous enzyme replacement therapy of tissue non-specific alkaline phosphatase (TNSALP) fused to a patented bone targeting peptide ENB-0040, is currently in Phase II clinical trials for the treatment of severe hypophosphatasia in infants. Studies in children with hypophosphatasia are anticipated to begin later this year. Preclinical studies in the "knockout" mouse model of severe hypophosphatasia showed that subcutaneous administration of ENB-0040 significantly improved survival, prevented the skeletal and dental manifestations of the disease and corrected skeletal defects in mice with established disease.

ENB-0040 was awarded orphan designation in the US and EU in 2008 and Fast Track status in 2009.

About Hypophosphatasia

Hypophosphatasia is a rare, inherited, and sometimes fatal metabolic bone disease. Affected individuals have low levels of the tissue non-specific form of alkaline phosphatase, an essential regulator of bone mineralization, leading to rickets in infants and children and osteomalacia ("soft bones" resulting from poor mineralization) in adults. Disease severity is inversely proportional to the age at symptom onset, but morbidity is cumulative and can worsen with age. Clinical severity ranges from the severe perinatal or infantile forms, with profound skeletal hypomineralization and respiratory compromise often causing death, to debilitating osteomalacia in adults.

In the infantile form, infants may appear normal at birth but develop serious symptoms in the first six months of life. These can include failure to thrive, respiratory failure, fractures, and seizures. Radiographic findings include generalized hypomineralization and rickets. Mortality in these patients may be as high as 50%. In the childhood form, patients have varying degrees of hypomineralization, frank rickets, short stature, bone pain, muscle weakness, delayed motor milestones, early loss of deciduous teeth, and may experience frequent, poorly-healing fractures. In the adult form, the underlying osteomalacia causes pathological fractures that in some cases stops ambulation.

About Enobia Pharma Inc.

Enobia is a private, Montreal based company focused on the development of therapeutics to treat serious bone disorders for which there is no currently approved drug therapy. ENB-0040 for the treatment of hypophosphatasia is the Company's lead program.

    Company Contact:
    Julie Anne Smith
    (514) 596-2901, extension 214

    Media Contact:
    Hollister Hovey
    Lazar Partners Ltd.

SOURCE Enobia Pharma
Copyright©2009 PR Newswire.
All rights reserved

Related biology technology :

1. Zenobia Therapeutics Successfully Completes Initial Phase of Its Service Agreement With Syntonix Pharmaceuticals
2. Enobia Completes Target Enrollment in Clinical Trial for Infantile Hypophosphatasia
3. Enobia Pharma Presents PreClinical Data Showing ENB-0040 Significantly Improved Survival and Healed Skeletal Manifestations of Severe Hypophosphatasia in Mice
4. Zenobia Therapeutics, Inc. Receives Michael J. Fox Foundation for Parkinsons Research Award for Work on PD-implicated Protein LRRK2
5. Zenobia Therapeutics, Inc. Begins Operations as a Fragment-Based Lead Discovery Company
6. Enobia Pharma Raises $40.1 Million Series B Financing
7. TSH Testing Raises Awareness of Importance of Thyroid Health
8. NeoStem Raises Additional Funds from Principals of Suzhou Erye Pharmaceuticals Company Ltd. and U.S. Institutional and Private Investors, Bringing the Total Recent Financings to Over $15 Million; Funds Will Support Expansion Activities in the United State
9. Gyros Raises SEK 80 Million to Accelerate the Commercialization of its Gyrolab(R) Systems for the Cost-Efficient Development of Biopharmaceuticals
10. Clavis Pharma Raises NOK 129 Million (USD 20 Million) in a Private Placement to Fund Further Development of its Pipeline of Novel Anticancer Drug Candidates
11. Americans United for Life: Obamas Disbanding Bioethics Council Raises Troubling Questions
Post Your Comments:
(Date:6/27/2016)... , June 27, 2016  Global demand for ... percent through 2020 to $7.2 billion.  This market ... beverages, cleaning products, biofuel production, animal feed, and ... diagnostics, and biocatalysts). Food and beverages will remain ... by increasing consumption of products containing enzymes in ...
(Date:6/27/2016)... Diego, CA (PRWEB) , ... June 27, 2016 , ... ... solutions for clinical trials, announced today the Clinical Reach Virtual Patient Encounter ... their care circle with the physician and clinical trial team. , Using the CONSULT ...
(Date:6/27/2016)... , June 27, 2016   Ginkgo Bioworks , ... industrial engineering, was today awarded as one of ... of the world,s most innovative companies. Ginkgo Bioworks ... for the real world in the nutrition, health ... work directly with customers including Fortune 500 companies ...
(Date:6/24/2016)... ... 2016 , ... Researchers at the Universita Politecnica delle Marche in Ancona combed ... pleural mesothelioma. Their findings are the subject of a new article on the Surviving ... signposts in the blood, lung fluid or tissue of mesothelioma patients that can help ...
Breaking Biology Technology:
(Date:6/22/2016)... June 22, 2016   Acuant , ... verification solutions, has partnered with RightCrowd ® ... for Visitor Management, Self-Service Kiosks and Continuous ... that add functional enhancements to existing physical ... and venues with an automated ID verification ...
(Date:6/15/2016)... June 15, 2016 Transparency ... titled "Gesture Recognition Market by Application Market - Global Industry Analysis ... 2024". According to the report, the  global gesture recognition ... 2015 and is estimated to grow at a ... by 2024.  Increasing application of gesture ...
(Date:6/2/2016)... 2, 2016 The Department of Transport ... the 44 million US Dollar project, for the , ... including Personalization, Enrolment, and IT Infrastructure , to ... production and implementation of Identity Management Solutions. Numerous renowned international ... Decatur was selected for the most compliant ...
Breaking Biology News(10 mins):