Navigation Links
Juventas Therapeutics Raises $22.2 Million Series B Financing
Date:7/16/2012

CLEVELAND, July 16, 2012 /PRNewswire/ -- Juventas Therapeutics, a clinical-stage regenerative medicine company, announced today that it has closed a $22.2 million Series B financing that was co-led by Triathlon Medical Venture Partners and New Science Ventures.  All previous venture firms, including Fletcher Spaght Ventures, Reservoir Venture Partners and Early Stage Partners participated in the round.  Also joining the syndicate are new investors Takeda Ventures, Venture Investors, Global Cardiovascular Innovation Center, Tri-State Growth Fund, Glengary and select angel investors. 

The proceeds will fund completion of ongoing Phase II clinical trials investigating the use of JVS-100 in treating patients with chronic heart failure or critical limb ischemia.  Both trials are actively enrolling patients.  JVS-100, the Company's lead product, encodes Stromal cell-Derived Factor 1 (SDF-1) which has been shown to repair damaged tissue through recruitment of circulating stem cells to the site of injury, prevent ongoing cell death and restore blood flow. 

"The funds raised through this Series B will carry us through significant clinical milestones," states Rahul Aras, Ph.D., President & CEO of Juventas Therapeutics.  "The fact that the round was oversubscribed and added several new investors to an already strong syndicate speaks to the excitement that is building around regenerative medicine, and specifically, the unique factor-based strategy employed by Juventas."

Clinical studies by several companies have demonstrated that delivery of adult stem cells to patients suffering from heart failure or critical limb ischemia has the potential to promote tissue repair and improve clinical outcomes.  In spite of these clinical findings, questions remain about the affordability and accessibility of cell-based therapy for the general population.  Rather than deliver cells, Juventas delivers JVS-100, which activates natural stem cell based repair pathways that lie dormant in a patient.  This allows the benefits of regenerative medicine without the complexity of cell therapy.  While currently focused on cardiovascular disease, the clinical potential for JVS-100 is broad. 

Last year, Juventas Therapeutics spun-off SironRX Therapeutics to focus on development of dermal and bone related applications for JVS-100.  In 2011, SironRX raised $3.4 million through a Series A financing led by North Coast Angel Fund and received $1 million in grant funding through the Ohio Third Frontier program.  The Company is currently enrolling a Phase Ib randomized, placebo-controlled, double-blinded clinical trial investigating dermal JVS-100 delivery to accelerate wound closure and reduce scar formation.

"Juventas provides a commercially viable solution to delivering regenerative therapies and has the potential to address a broad range of clinical applications" states George Emont, Managing Partner for Triathlon Medical Ventures and Chairman for Juventas. ©øWe are pleased to have raised these funds for the two Phase II clinical trials and additional development as the company looks toward its Phase III trials and eventual commercialization".

About Juventas Therapeutics
Juventas Therapeutics, (www.juventasinc.com) headquartered in Cleveland, OH, is a privately-held clinical-stage biotechnology company developing a pipeline of regenerative therapies to treat life–threatening diseases. Founded in 2007 with an exclusive license from Cleveland Clinic, Juventas has transitioned its therapeutic platform from concept to initiation of mid-stage clinical trials for treatment of heart failure and critical limb ischemia.  Investors include New Science Ventures, Takeda Ventures, Triathlon Medical Venture Partners, Venture Investors, Early Stage Partners, Fletcher Spaght Ventures, Reservoir Venture Partners, Glengary, The Global Cardiovascular Innovation Center, Tri-State Growth Fund, North Coast Angel Fund, X Gen Ltd., JumpStart Inc., and Blue Chip Venture Co. The company has received non-dilutive grant support through the Ohio Third Frontier-funded Cleveland Clinic Ohio BioValidation Fund, Global Cardiovascular Innovation Center and Center for Stem Cell & Regenerative Medicine.


'/>"/>
SOURCE Juventas Therapeutics
Copyright©2012 PR Newswire.
All rights reserved

Related biology technology :

1. Silence Therapeutics Announces Subscription and Open Offer to Raise up to £5.7 Million
2. Nektar Therapeutics Announces Private Placement of $125 Million of Senior Secured Notes Due in 2017
3. Bio-Innovator Saneron CCEL Therapeutics Supports Cryo-Cell International Leadership and Board of Directors in Proxy Contest
4. Global Neuroendocrine Carcinoma Therapeutics Market To Reach $475m By 2019 - Report
5. United Therapeutics Announces Additional $100 Million Share Repurchase Program
6. Healthpoint Biotherapeutics To Create State-of-the-Art Cell Sciences Manufacturing Facility
7. ResearchMoz: Bone Metabolism Therapeutics Market to 2018 - Hyperparathyroidism Sector to Decline in the Absence of New Product Launches and Increased Generic Erosion for Zemplar, Hectorol and Sensipar- Market Research Report
8. Study of Cell Therapeutics Tosedostat for Elderly Patients with Acute Myeloid Leukemia or High-Risk Myelodysplastic Syndrome Now Enrolling
9. Rhythm Raises $25M in Series B Financing for Diabetes and Obesity Therapeutics
10. Cell Therapeutics Announces Institutional Investor to Purchase $40 Million of Convertible Preferred Stock and Warrants to Purchase Common Stock
11. Arthritis Therapeutics Market to 2018 - Novel Oral JAK Inhibitors and Biologic Disease Modifying Anti-Rheumatic Drugs (DMARD) Will Drive Continued Growth Across Key Indications
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/11/2017)... ... October 11, 2017 , ... ComplianceOnline’s Medical Device Summit is ... and 8th June 2018 in San Francisco, CA. The Summit brings together current and ... distinguished CEOs, board directors and government officials from around the world to address key ...
(Date:10/11/2017)... ... ... Disappearing forests and increased emissions are the main causes of the evolving air ... living in larger cities are affected by air pollution related diseases. , That is ... globally - decided to take action. , “I knew I had to take action ...
(Date:10/10/2017)... ... October 10, 2017 , ... ... targeted antibody-drug conjugate (ADC) therapeutics, today confirmed licensing rights that give it ... Nanoparticle), a technology developed in collaboration with Children’s Hospital Los Angeles (CHLA). ...
(Date:10/10/2017)... Calif. , Oct. 10, 2017 SomaGenics ... from the NIH to develop RealSeq®-SC (Single Cell), expected ... for profiling small RNAs (including microRNAs) from single cells ... Program highlights the need to accelerate development of approaches ... "New techniques for measuring levels ...
Breaking Biology Technology:
(Date:6/14/2017)... 15, 2017  IBM (NYSE: IBM ) is introducing several ... dedicated to developing collaboration between startups and global businesses, taking ... During the event, nine startups will showcase the solutions they ... industries. France is ... with a 30 percent increase in the number of startups ...
(Date:5/6/2017)... , May 5, 2017 RAM ... announced a new breakthrough in biometric authentication based ... quantum mechanical properties to perform biometric authentication. These new ... semiconductor material created by Ram Group and its ... entertainment, transportation, supply chains and security. Ram Group ...
(Date:4/17/2017)... Florida , April 17, 2017 NXT-ID, ... technology company, announces the filing of its 2016 Annual Report on ... and Exchange Commission. ... on Form 10-K is available in the Investor Relations section of ... as on the SEC,s website at http://www.sec.gov . ...
Breaking Biology News(10 mins):