Navigation Links
Aldea Pharmaceuticals Closes $24 Million Series B Financing
Date:8/24/2014

REDWOOD CITY, Calif., Aug. 25, 2014 /PRNewswire/ -- Aldea Pharmaceuticals, a company pioneering novel therapeutics to treat aldehyde metabolism disorders, today announced that it has closed a $24 million Series B equity financing. The financing included new investors RusnanoMedInvest (RMI) and WuXi PharmaTech Corporate Ventures. All previous investors including Canaan Partners and Correlation Ventures also participated in the round.

The financing will be used to advance Aldea's lead drug candidate, AD-6626, into clinical trials, including evaluating proof-of-concept for the treatment of subjects with acute alcohol intoxication and funding subsequent Phase 2 trials of intravenous (IV) AD-6626 in an emergency room (ER) setting. In addition, Aldea is studying oral AD-6626 for the treatment of subjects with the rare genetic disease Fanconi anemia, and anticipates the financing will support a Phase 1/2 proof-of-biology study in that indication.

Every year, millions of Americans are admitted to the ER as a result of clinically significant acute alcohol intoxication, and an estimated 10 to 15 percent of ER visits are associated with alcohol consumption. Acute alcohol toxicity can be life-threatening and can lead to ER crowding, delays in critical treatment for trauma patients and intensive use of hospital resources. Since there is no antidote treatment available for alcohol toxicity, patients with acute alcohol intoxication must wait for the alcohol to be metabolized from their systems before they can be discharged from the ER.

"The use of AD-6626 in the ER setting has the potential to stabilize patients suffering from acute alcohol toxicity and more rapidly improve the signs and symptoms of intoxication than waiting for alcohol metabolism, thereby simplifying patient care. This could facilitate treatment in individuals suffering from co-morbidities such as trauma, as well as benefiting the system as a whole," noted William Yelle, chief executive officer of Aldea. "We also have the opportunity to apply our scientific approach in the treatment of patients with Fanconi anemia, a rare genetic disease characterized by chromosomal instability, bone marrow failure and an increased risk of cancer. The funds we have secured with this financing should allow us to generate proof-of-concept data in both of these indications."

About Aldea Pharmaceuticals
Aldea Pharmaceuticals is focused on developing small molecule modulators of the aldehyde dehydrogenase enzyme superfamily. The scientific approach was discovered by Stanford University researchers and exclusively licensed to Aldea. Aldea is pursuing treatment of clinically significant acute alcohol toxicity, Fanconi anemia and other diseases and conditions associated with toxic aldehydes.


'/>"/>
SOURCE Aldea Pharmaceuticals
Copyright©2014 PR Newswire.
All rights reserved

Related medicine technology :

1. Savient Pharmaceuticals to Hold First Quarter 2012 Financial Results Conference Call on Wednesday, May 9, 2012
2. Auxilium Pharmaceuticals to Present at the Deutsche Bank 37th Annual Healthcare Conference
3. Nouveau Life Pharmaceuticals (HRID) Contracts with U.S. Manufacturer to Produce New Female Supplement
4. BioElectronics Survey Indicates a Five-Fold Superior Pain Relief Compared to OTC Pharmaceuticals
5. Icahn Issues Statement Regarding Amylin Pharmaceuticals
6. Almost 50 Percent of the Glaucoma Patient Population Remains Untreated, Signifying a Vast Market for Glaucoma Pharmaceuticals, Finds Frost & Sullivan
7. Omthera Pharmaceuticals Announces Positive Top-Line Results from Phase 3 EVOLVE Study
8. Onyx Pharmaceuticals Announces FDA Advisory Committee to Review Carfilzomib for the Treatment of Patients with Relapsed and Refractory Multiple Myeloma
9. Jazz Pharmaceuticals Announces First Quarter 2012 Financial Results Conference Call On May 8, 2012
10. Inovio Pharmaceuticals Granted U.S. Patent Protection for Synthetic Vaccine for Cervical Dysplasia and Cancer
11. Avanir Pharmaceuticals To Present at Three Conferences In May
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/9/2016)... 2016   AllCare Plus Pharmacy announced today ... of Approval ® for Home Care Accreditation ... The Gold Seal of Approval ® is a ... providing safe and effective care.  ... a rigorous on-site survey in January 2016. The survey ...
(Date:2/9/2016)... The leader in accelerated orthodontics, OrthoAccel ® Technologies, ... of the 2015 Townie Choice Award in the accelerated ... that speeds up orthodontic tooth movement by as much ... treatment, AcceleDent was selected by orthodontists from across the ... survey of the most reliable and reputable products in ...
(Date:2/9/2016)... Feb. 9, 2016  Johnson & Johnson (NYSE: ... Global Healthcare Conference on Tuesday, Feb. 23, at the ... Caruso , Vice President, Finance & Chief Financial Officer ... represent the Company in a session scheduled at 10:00 ... --> www.investor.jnj.com . --> This webcast ...
Breaking Medicine Technology:
(Date:2/9/2016)... ... February 09, 2016 , ... The Bon-Ton Stores, Inc. ... department stores, announced it has raised $176,000 to benefit the Breast Cancer Research ... Center at the University of Iowa, The Lynn Sage Cancer Research Foundation, and ...
(Date:2/9/2016)... (PRWEB) , ... February 09, 2016 , ... ... therapy products, announced today the introduction of the newly designed, innovative shoulder wrap. ... and better cold therapy coverage for the injured arm and shoulder to promote ...
(Date:2/9/2016)... (PRWEB) , ... February 09, 2016 , ... i2i Systems, ... of the highest preliminary data vendors in the latest KLAS report, Population Health Management ... has led the developing market for population health management (PHM). The latest KLAS ...
(Date:2/8/2016)... ... February 08, 2016 , ... ... redesigned website, federallabs.org . The site houses a wealth of federal resources ... technologies through the process called technology transfer (T2). As a network of over ...
(Date:2/8/2016)... ... ... Valentine’s Season is famous for gift giving with flowers, chocolates and other tokens of affection ... year, for more than 5.6 million Americans suffering with Alzheimer’s, those store bought gifts ... of the lives they’ve led and the people they’ve touched. , That’s why ...
Breaking Medicine News(10 mins):