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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 h
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SOURCE Peptimmune, Inc.
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