Navigation Links
Peptimmune Announces First Close of Series D Private Financing
Date:1/17/2008

CAMBRIDGE, Mass., Jan. 17 /PRNewswire/ -- Peptimmune, Inc., a privately held biotechnology company, announced that it has completed a first close of $8.2 million of a Series D preferred stock offering with its investor syndicate led by New Enterprise Associates, MPM Capital, Hunt Ventures L.P., Boston Medical Investors and Silicon Valley Bank Capital, as well as certain other investors, including its Chairman of the Board. The Company expects a second close in Q2/2008, which may involve an additional new investor. The proceeds of the financing are primarily being used to advance clinical development of Peptimmune's PI-2301 for the treatment of multiple sclerosis.

"We are pleased with the level of continuing support from our existing investors and the opportunity to expand our syndicate," stated Thomas P. Mathers, President and CEO. "The Series D investment will provide the necessary capital to complete two clinical trials by the end of 2008: the current single ascending dose in healthy volunteers and a multiple ascending dose in multiple sclerosis patients, expected to start in Q2/08. The completion of these two studies will offer proof of principal for PI-2301, which is a second generation copolymer targeted at treating patients with relapsing and remitting multiple sclerosis."

Financing Two Clinical Trials in Multiple Sclerosis

Peptimmune is currently completing its Phase I single ascending dose study for PI-2301, a double blind placebo controlled randomized study that involves 56 healthy male volunteers who will receive the drug in eight escalating dose cohorts. Following establishment of safety at potentially therapeutic doses, the Company will initiate its first repeat dose study in multiple sclerosis patients in Q2/2008, where it will explore safety, pharmacokinetics and pharmacodynamics over eight to twelve weeks of dosing.

About PI-2301

PI-2301 is a second generation peptide copolymer from a similar compound class as Copaxone(R) (Teva Pharmaceuticals). PI-2301 works through immune modulation by enhancing the regulatory response of the immune system to control the pathogenic autoimmune response in certain diseases. PI-2301 has been optimized using Peptimmune's novel platform peptide chemistry and in pre-clinical studies, has shown to be more potent and effective than Copaxone in treating disease models for multiple sclerosis. It is expected that weekly dosing administration with PI-2301 will provide greater patient convenience and tolerability over Copaxone's daily dosing administration. PI-2301 has also shown efficacy in pre-clinical models of autoimmune diseases where immune modulation may be effective, such as Crohn's disease, rheumatoid arthritis and autoimmune uveitis. Peptimmune has also introduced highly reproducible manufacturing methods that allow very strict control and characterization of PI-2301 and should provide a superior level of batch to batch consistency.

Information on Multiple Sclerosis

Over 400,000 Americans have multiple sclerosis (MS), and worldwide MS may affect over 2.5 million individuals. MS is an autoimmune disease in which the individual's immune system responds against multiple components of nerve-insulating myelin. The effects of these immune-mediated attacks can range from relatively benign to somewhat disabling to devastating, as communication between the brain and other parts of the body is disrupted.

About Peptimmune

Peptimmune, Inc. is a privately held clinical stage biotechnology company focused on the development of peptide therapies to improve the management of chronic autoimmune and inflammatory disorders. The Company is in clinical development with second-generation therapeutics that are expected to result in safer and more effective products for multiple sclerosis and pemphigus vulgaris. Current investors include New Enterprise Associates, MPM Capital, Hunt Ventures, Boston Medical Investors, and Silicon Valley Bank Capital. For additional information, access our website at http://www.peptimmune.com, or contact Dustan Bonnin at (617) 715-8043.


'/>"/>
SOURCE Peptimmune, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related biology technology :

1. Schering-Plough Announces Sugammadex New Drug Application Filed in Japan
2. Gen-Probe Announces Webcast of Fourth Quarter and Full Year 2007 Earnings Conference Call
3. Vasogen Announces 2007 Year-End Results
4. RSB Spine, LLC Announces First Implantation of the InterPlate(TM) L for the Lumbar Spine
5. Stereotaxis Announces FDA Approval of Its Partnered Magnetic Irrigated Catheter
6. Healthcare Technologies Ltd. (NASDAQ: HCTL) Announces Extension of Letters of Intent to Acquire Majority Interest in Two Ethanol Plants
7. BioSpecifics Technologies Corp. Announces Sale of Stock in Private Placement Offering
8. Hagens Berman Sobol Shapiro Announces Proposed Class-Action Lawsuit Against CellCyte
9. Neurocrine Announces Appointment of Kevin Gorman, Ph.D., as President and Chief Executive Officer
10. Shamir Optical Industry Ltd. Announces Declaration of a Cash Dividend
11. Cell Therapeutics, Inc. Announces Authorization to Publish Italian Listing Prospectus
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/11/2017)... ... October 11, 2017 , ... ... implantation and pregnancy rates in frozen and fresh in vitro fertilization (IVF) ... and maternal age to IVF success. , After comparing the results from the ...
(Date:10/10/2017)... ... 10, 2017 , ... For the second time in three ... Mentoring Award. Representatives of the FirstHand program travelled to Washington, D.C. Tuesday, October ... US2020’s mission is to change the trajectory of STEM education in America by ...
(Date:10/10/2017)... ... October 10, 2017 , ... USDM ... firm for the life sciences and healthcare industries, announces a presentation by Subbu ... , The presentation, “Automating GxP Validation for Agile Cloud Platforms,” will present a ...
(Date:10/9/2017)... Charlotte, N.C. (PRWEB) , ... October 09, 2017 , ... ... Purple announced Dr. Christopher Stubbs, a professor in Harvard University’s Departments of Physics and ... Dr. Stubbs was a member of the winning team for the 2015 Breakthrough Prize ...
Breaking Biology Technology:
(Date:4/6/2017)... Forecasts by Product Type (EAC), ... End-Use (Transportation & Logistics, Government & Public Sector, Utilities ... Generation Facility, Nuclear Power), Industrial, Retail, Business Organisation (BFSI), ... you looking for a definitive report on the $27.9bn ... ...
(Date:4/3/2017)... WASHINGTON , April 3, 2017 /PRNewswire-USNewswire/ ... single-cell precision engineering platform, detected a statistically ... cell product prior to treatment and objective ... highlight the potential to predict whether cancer ... prior to treatment, as well as to ...
(Date:3/28/2017)... 28, 2017 The report "Video ... Monitors, Servers, Storage Devices), Software (Video Analytics, VMS), and ... Global Forecast to 2022", published by MarketsandMarkets, the market ... is projected to reach USD 75.64 Billion by 2022, ... The base year considered for the study is 2016 ...
Breaking Biology News(10 mins):