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Coronado Biosciences Closes $25.8M in Series C Financing
Date:7/6/2011

NEW YORK, July 6, 2011 /PRNewswire/ -- Coronado Biosciences, a biopharmaceutical company focused on novel immunotherapy agents for inflammatory diseases and cancer, today announced that it closed a $25.8 million Series C financing led by National Securities Corporation.

Coronado plans to use the proceeds from the financing to advance its pipeline, including funding a Phase II study of the company's lead development candidate, CNDO-201 for the treatment of Crohn's Disease and a Phase I/II study of CNDO-109 for the treatment of relapsed Acute Myeloid Leukemia (AML).  Each of these drugs is a novel therapy that has achieved clinical proof-of-concept in indications with unmet medical needs. CNDO-201 is also in development for other autoimmune diseases, including ulcerative colitis and multiple sclerosis.

CNDO-201 (Trichuris suis ova) is a novel, orally administered, natural immunomodulator that regulates T-Cells and inflammatory cytokines.  The use of porcine whipworm ova represents a novel approach and mechanism of action to treating autoimmune diseases that is based on the "hygiene hypothesis."  CNDO-201 has demonstrated meaningful clinical activity and a good safety profile in a three independent investigator sponsored clinical trials.  A Company sponsored Phase II double-blind, placebo controlled trial of CNDO-201 for the treatment of Crohn's Disease is scheduled for initiation in early 2012.  

CNDO-109 is a novel anti-cancer drug that primes natural killer (NK) cells without the need for cytokine (IL-2) treatment and shows significant potential for the treatment of hematological and solid tumors. CNDO-109 has produced impressive results in a Phase I clinical trial in patients with AML and demonstrated preclinical activity in multiple myeloma, breast cancer, prostate cancer and ovarian cancer.  Coronado plans to initiate a Phase I/II dose escalation and expansion trial in patients with relapsed AML in 2012. 
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