Navigation Links
Coronado Biosciences, Inc. Announces Completion of Financings, Management Changes and Development Update
Date:11/3/2010

NEW YORK, Nov. 3, 2010 /PRNewswire/ -- Coronado Biosciences, Inc., a privately held company engaged in innovative oncology drug development, announced completion of a series of private financings in 2010, resulting in aggregate gross proceeds to the Company of approximately $21.6 million.  The Company intends to use the proceeds from these financings for general corporate purposes, including working capital, and to fund development activities for its lead product candidate, CNDO-109, including the initiation of a Phase 2 clinical trial in the US in patients with advanced acute myelogeous leukemia (AML).  Paramount BioCapital, Inc. acted as lead placement agent for the financings.

CNDO-109 is a biological product based on in-licensed technology that activates natural killer (NK) cells harvested from close relatives of cancer patients or from the patient  for the therapy of a wide-range of difficult to treat blood and solid tumor cancers.

Based on the results of a recently-completed Phase 1 open-label, uncontrolled clinical trial of CNDO-109 therapy in adult AML patients conducted at the Royal Free Hospital in London, the Company intends to file a Investigational New Drug application (IND) with the US Food and Drug Administration and to pursue a multicenter Phase 2 clinical trial for AML patients in the US, which the Company expects to commence in 2011.

Glenn L. Cooper, MD has joined the Company as Executive Chairman and Acting Chief Executive Officer, replacing R.J. Tesi, M.D., who has left the Company.  Dr. Cooper has 20 years of experience in the pharmaceutical and biotechnology industries, most recently as Chairman and Chief Executive Officer of Indevus Pharmaceuticals, which was acquired by Endo Pharmaceuticals in 2009 for an aggregate acquisition price that has the potential to reach $700 million.

Eric Rowinsky, MD, has joined the Company as Vice Chairman and will serve as a consultant with particular focus on oversight of the Company's clinical development programs. Dr. Rowinsky was Chief Medical Officer and Executive Vice President at Imclone Systems from 2005 to 2009. Dr. Rowinsky is one of the country's leading cancer drug development experts.

Gary Gemignani has joined the company as Executive Vice President, Chief Operating Officer and Chief Financial Officer. Prior to joining Coronado, Mr. Gemignani was Executive Vice President, Chief Operating Officer and Chief Financial Officer of Gentium SpA, a developer of drugs for complications of cancer therapy. Prior to that, Mr. Gemignani held management positions of increasing responsibility at Wyeth, Novartis, and Prudential Financial.

This press release contains forward-looking statements that involve risks and uncertainties that could cause the Company's actual results and experiences to differ materially from the anticipated results and expectations expressed in these forward-looking statements.  These forward-looking statements concern the timing, progress and results of the clinical development, regulatory processes, potential clinical trial initiations of the Company's product candidates, as well as the potential role these product candidates may play in the treatment of cancers. These statements are often, but not always, made through the use of words or phrases such as anticipates, expects, plans, believes, intends, and similar words or phrases. These statements are based on current expectations, forecasts and assumptions that are subject to risks and uncertainties, which could cause actual outcomes and results to differ materially from these statements. These statements are subject to various risks and uncertainties and include the Company's need for additional capital to fund its clinical development programs, the possibility that the results of clinical trials will not support the Company's claims, the possibility that the Company's development efforts relating to its product candidates will not be successful, the inability to obtain regulatory approval of the Company's product candidates, the Company's reliance on third-party researchers to develop its product candidates, its lack of experience in developing and commercializing pharmaceutical products, and the possibility that its licenses to develop and commercialize its product candidates may be terminated. The Company assumes no obligation and does not intend to update these forward-looking statements, except as required by law.

Coronado Biosciences, Inc. Contact:

Gary Gemignani, (212) 332-1666, ggemignani@coronadobiosciences.com




'/>"/>
SOURCE Coronado Biosciences, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Regado Biosciences, Inc. Presents the First-In-Human Clinical Experience with REG2 at the American College of Chest Physicians (ACCP) Coagulation and Heart Disease Sessions in Vancouver, BC, Canada on November 2, 2010
2. Signum Biosciences, Inc. Announces Commercial Launch of Arazine™
3. Ampio Pharmaceuticals to Acquire DMI Biosciences, Inc.
4. Regado Biosciences, Inc. Introduces REG2, Its Second Product Candidate, at the American College of Cardiology Conference, 59th Annual Scientific Session, in Atlanta, Georgia on March 15, 2010
5. Neurocrine Biosciences, Inc. Prices Common Stock Offering
6. Hollis-Eden Announces Name Change to Harbor BioSciences, Inc. and Ticker Symbol Change to HRBR
7. Pressure BioSciences, Inc. Announces $850,000 NIH SBIR Phase II Award for the Development of a New PCT-dependent System for Improved Biomarker Discovery, Diagnostics, and Drug Discovery
8. Novel PCT Method Unveiled by Pressure BioSciences, Inc. and Collaborators at the Harvard School of Public Health
9. Ardea Biosciences, Inc. Announces New Clinical Development Program Directed Toward the Treatment of Gout
10. Ardea Biosciences, Inc. Presents Results of Phase 1 Studies of RDEA806, a Novel NNRTI for HIV, at 47th ICAAC
11. Ardea Biosciences, Inc. Announces Completion of Phase 1 Clinical Trials of Novel Investigational HIV Drug RDEA806
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/8/2016)... Aesthetic Devices - Medical Devices Pipeline Assessment, ... "Aesthetic Devices - Medical Devices Pipeline Assessment, 2015" provides ... This report is prepared using data ... GlobalData,s team of industry experts. *Note: Certain sections ... on the availability and relevance of data in relation ...
(Date:2/8/2016)... FAIRFIELD, N.J. , Feb. 8, 2016  Otsuka ... today announced that they have entered into a licensing ... OPA-15406 in the U.S. and Puerto Rico ... is a topical, non-steroidal phosphodiesterase IV (PDE-4) inhibitor, a ... --> --> In a Phase II ...
(Date:2/8/2016)... , Feb. 8, 2016  Echo ... medical device company focused on non-invasive continuous ... announced today announced that it will host ... February 17, 2015 at 9:00 a.m. Eastern ... discuss its corporate strategy, advancements in its ...
Breaking Medicine Technology:
(Date:2/9/2016)... FL (PRWEB) , ... February 09, 2016 , ... ... innovative specialty pharmacies, announces today the continuation of the ‘Pay It Forward’ program ... each prescription referral received at our specialty pharmacy. , “Since our Pay ...
(Date:2/9/2016)... ... 2016 , ... On January 12, 2016 Paul McElwee, a CroppMetcalfe HVAC technician, ... furnace not producing any heat. Shortly after entering the home, Paul was able to ... dangerous levels of carbon monoxide into the home, at 2,000 parts per million in ...
(Date:2/9/2016)... ... February 09, 2016 , ... The Bon-Ton ... and Younkers department stores, announced it has raised $176,000 to benefit the Breast ... Comprehensive Cancer Center at the University of Iowa, The Lynn Sage Cancer Research ...
(Date:2/9/2016)... ... February 09, 2016 , ... ZipHearing.com ... access to affordable hearing aids , increase industry transparency, and promote awareness ... United States. , “For the average consumer, the hearing aid industry is esoteric ...
(Date:2/9/2016)... , ... February 09, 2016 , ... ... products, announced today the introduction of the newly designed, innovative shoulder wrap. ... better cold therapy coverage for the injured arm and shoulder to promote faster ...
Breaking Medicine News(10 mins):