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:6/22/2017)... ... , ... Charm Sciences, Inc. is pleased to announce that its Charm Amphenicol ... as a screening test at dairies and farms for raw commingled cow milk. The ... EZ Lite system. These systems are a combination incubator and reader in one. , ...
(Date:6/20/2017)... ... June 20, 2017 , ... Biologist Dawn Maslar MS has found a biomarker ... Men Chase, Women Choose: The Neuroscience of Meeting, Dating, Losing Your Mind, and Finding ... men. ”The logical next step, in my estimation, was to scientifically track the evidence ...
(Date:6/20/2017)... , June 20, 2017  Kibow Biotech Inc., a ... announce the issuance of a new patent covering a ... by the U.S. Patent and Trademark Office on May ... of the Buzz of Bio award in 2014 in ... to developing non-drug approaches to chronic disease. Renadyl™, the ...
(Date:6/20/2017)... ... ... Do More with OHAUS , With the launch of the new laboratory ... industry, to extending its expertise across the entire laboratory to a range of life ... allowing for its customers to 'Do More' in the lab. , Efficiency and ...
Breaking Biology Technology:
(Date:4/19/2017)... York , April 19, 2017 ... as its vendor landscape is marked by the presence ... market is however held by five major players - ... Together these companies accounted for nearly 61% of the ... the leading companies in the global military biometrics market ...
(Date:4/11/2017)... 11, 2017 Crossmatch®, a globally-recognized leader ... today announced that it has been awarded a ... Activity (IARPA) to develop next-generation Presentation Attack Detection ... "Innovation has been a driving force within Crossmatch ... allow us to innovate and develop new technologies ...
(Date:4/5/2017)... , April 5, 2017  The Allen Institute ... Allen Cell Explorer: a one-of-a-kind portal and dynamic digital ... 3D imaging data, the first application of deep learning ... human stem cell lines and a growing suite of ... platform for these and future publicly available resources created ...
Breaking Biology News(10 mins):