Navigation Links
Peptimmune Announces the Second Close of Series D Private Financing
Date:7/16/2008

CAMBRIDGE, Mass., July 16 /PRNewswire/ -- Peptimmune, Inc., a privately held biotechnology company, announced that it has completed a second close of $8.9 million of its 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, and its Chairman of the Board. The proceeds of the financing are primarily being used to advance clinical development of Peptimmune's PI-2301 for the treatment of multiple sclerosis.

"The Series D investment allows us to further evaluate PI-2301 in multiple sclerosis patients," stated Thomas P. Mathers, President and CEO. "The primary goal of our current Phase Ib study is to demonstrate safety of PI-2301 in multiple sclerosis patients. The Phase Ib will investigate the pharmacologic effect of PI-2301 in MS patients in the most extensive study of biomarkers in patients treated with copolymers to date."

Financing Clinical Trials in Multiple Sclerosis

Peptimmune is currently undertaking its Phase Ib multiple ascending dose study to evaluate the safety, tolerability, pharmacokinetics, and pharmacodynamics of PI-2301 in subjects with Secondary Progressive Multiple Sclerosis (SP-MS). The Phase Ib multiple-ascending dose, double-blind, placebo-controlled randomized study will involve up to fifty-three subjects with SP-MS who will receive the drug once weekly in four escalating-dose cohorts. Following establishment of safety at potentially therapeutic doses and proof of pharmacologic mechanism, the Company plans to initiate its Phase II study in multiple sclerosis patients in 2009.

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 individuals' 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.


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

Related medicine news :

1. HHS Announces $75 Million in Supplemental Funding to States for Pandemic Flu Preparedness
2. CRC Health Group Announces Acquisition of Bayside Marin Recovery Center, San Rafael
3. UHW Announces: Antelope Valley Hospital Caregivers and Board Vote to Ratify First Union Contract With SEIU UHW-West
4. HEI, Inc. Announces Sale of RFID Division Assets
5. Caraco Pharmaceutical Laboratories, Ltd. Announces FDA Approval to Market Generic Version of Zyloprim(R)
6. Mettler-Toledo International Inc. Announces Webcast of Presentation at Thomas Weisel Partners 2007 Healthcare Conference
7. Z Trim Announces Revocation of Gregory Halpern Severence Agreement
8. Brooke Franchise Corporation Announces Selected July Results
9. Manor Care, Inc. Announces Record Date for Special Stockholder Meeting
10. Caraco Pharmaceutical Laboratories, Ltd. Announces FDA Approval to Market Generic Version of Adipex-P(R)
11. Planet Technologies Announces Agreement to Acquire Antigen Laboratories
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:1/17/2017)... ... 17, 2017 , ... Metro Development Group has broken ground ... technology into the fabric of an entire community. A highlight of this new ... in a yet-to-be-named, health focused campus. Leading this initiative in partnership with Metro ...
(Date:1/17/2017)... ... January 17, 2017 , ... Peoples Health is pleased to ... on Dec. 1, 2016. Peoples Health, a Metairie-based Medicare Advantage company, serves more ... addition to our provider network, and the addition will benefit our members in ...
(Date:1/17/2017)... ... January 17, 2017 , ... Neil H. Greco Insurance Agency, ... to communities throughout the region, is launching a charity drive to raise awareness of ... far the deadliest killer in America, and is responsible for 1 in every 4 ...
(Date:1/17/2017)... ... January 17, 2017 , ... Seceon , the only ... real-time, today announced a strategic partnership with TechLab Security, a leading ... partners, TechLab Security has become a strategic partner and a value added reseller ...
(Date:1/17/2017)... , ... January 17, 2017 , ... Many people make New Year’s resolutions or renew ... Mondavi is making it easier for people who want to kick off 2017 with ... and existing patients. , These special offers include: , , ...
Breaking Medicine News(10 mins):
(Date:1/17/2017)... , Jan. 17, 2017  From the company that brought a ... fourteen years ago, comes a new line of companion animal pet ... world leader in equine first aid, has developed two sizes of ... USA , Inc. Featuring a small and a ... company and rodeo family, is not a newcomer to working with ...
(Date:1/17/2017)... , Jan. 17, 2017  OrthoAccel ® ... Orthodontics (JCO) has published "The Effect of Vibration ... patients. Conducted by Dr. S. Jay Bowman , ... Class II malocclusions, AcceleDent,s SoftPulse Technology ® speeds ... while also reducing the number of days to move ...
(Date:1/17/2017)... Research and Markets has announced the addition ... report to their offering. ... The global fluoropolymer market in the healthcare industry to ... Global Fluoropolymer Market in the Healthcare Industry 2016-2020, has ... industry experts. The report covers the market landscape and its growth ...
Breaking Medicine Technology: