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iZumi Bio and Pierian Merge to Form iPierian to Advance Cellular Reprogramming
Date:7/7/2009

iscovery and development. We are now furthering those efforts by bringing together the leading scientists in the field as active colleagues and members of the SAB to create a new and powerful force in the field of stem cell science," said CEO John Walker. "Drs. Daley, Melton and Rubin share our conviction that this effort represents a paradigm shift in the way drug discovery and development will be conducted in the future and maintain a clear focus on the development of new therapeutics."

"Disease-specific pluripotent stem cells are powerful new tools for drug screening and promise to revolutionize the treatment of intractable conditions," said Dr. George Daley. "We are excited to join forces with the iZumi team, and view this as an opportunity to translate our stem cell research efforts into therapeutic realities for patients. Our initial focus will be in neurodegenerative disease and longer term into metabolic and cardiovascular diseases, as well as other therapeutic areas."

iPierian has secured a $10 million investment from MPM Capital, which will augment the original $20 million investment by Kleiner Perkins Caufield & Byers and Highland Capital Partners. "As the founding investor in Pierian, we are delighted to now support the formation of iPierian and a technology that we believe will change the value proposition of drug development," said Dr. Ashley Dombkowski, the managing director at MPM Capital who co-founded Pierian along with MPM managing director Robert Millman. Dr. Dombkowski will join the iPierian Board of Directors and will serve along with current iZumi members, Dr. Corey Goodman, John Walker, Dr. Beth Seidenberg of Kleiner Perkins Caufield & Byers, and Bob Higgins of Highland Capital Partners.

In addition to the investment by MPM, FinTech Capital Partners has invested an additional $1.5 million in this round of financing.

iPierian will continue the collaborations
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SOURCE iZumi Bio, Inc.; Pierian, Inc.
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