Navigation Links
Satori Pharmaceuticals Raises $15M in New Funding
Date:2/23/2012

CAMBRIDGE, Mass., Feb. 23, 2012 /PRNewswire/ -- Satori™ Pharmaceuticals, a developer of life changing therapeutics for Alzheimer's disease (AD), today announced that it has raised an additional $15 million in financing. Current investors InterWest Partners, New Enterprise Associates Inc. (NEA) and Prospect Venture Partners co-led the round. Prior to this round, Satori had raised a total of $25 million in financing which has allowed the Company to select a group of lead compounds poised for clinical development. Today, the Company also announced that Donald Hayden was elected as Chairman of the Board of Directors and that Dr. David Schnell, of Prospect Ventures and Stephen Muniz of PureTech Ventures were appointed as new members of Satori's Board.   

"It is becoming widely understood among experts in the field that the neurotoxic amyloid beta (AB) 42 peptide is a primary bad actor in the onset and progression of AD," said Hayden. "Satori has demonstrated in a preclinical setting that modulating gamma-secretase has the potential to effectively and selectively lower levels of AB42 – the main component of amyloid beta plaques. I am particularly drawn to Satori's ambitious goal of developing a safe, oral drug with the potential to slow or stop the progression of the disease."

"Today's announcement demonstrates that Satori is taking the next step in its growth as a company," said Dr. Jeffrey Ives, CEO. "Until now we have been quietly validating the scientific approach behind our lead compounds – which are orally available, highly selective and what we believe to be the best in the industry pipeline. This round of funding and the addition of three great advisors in Don, David and Steve position us nicely as we prepare to begin clinical work on those lead compounds."

Mr. Hayden brings to Satori the experiences and perspective resulting from a highly successful 25-year career with Bristol-Myers Squibb Company as well as the insights gained from key roles at a number of smaller, more entrepreneurial pharmaceutical and biotech companies. At Bristol-Myers, Don served as president of Worldwide Medicines; executive vice president and president, Americas; executive vice president of the Health Care Group; president of Oncology and Immunology; and senior vice president for Worldwide Franchise Management and Business Development. Since leaving Bristol-Myers in early 2006, Don has served as Chairman of the Boards of Vitae Pharmaceuticals, Insmed and Gloucester Pharmaceuticals. Don also serves as Lead Director of Amicus Therapeutics and is a Director of both Otsuka Pharmaceuticals and Nora Therapeutics. Hayden is also a Senior Advisor to Prospect Venture Partners.

David Schnell is a co-founder and Managing Director of Prospect Venture Partners. David has led investments and served on the Board of Directors of numerous successful private and public companies, and he has worked closely with many talented entrepreneurs and executives to help launch, grow and manage innovative enterprises. Since 1997, Prospect has raised and managed more than $1B of committed capital from foundations, endowments, pension funds and others to support the growth and investment objectives of more than 50 private companies. These companies pursue discovery, development and commercialization of novel biomedical products and technologies addressing important unmet medical needs.

Mr. Muniz is a Partner at PureTech Ventures, as well as the General Counsel and Chief Operating Officer.  Prior to joining PureTech, he was a Partner in the Corporate Department of Edwards, Angell, Palmer & Dodge LLP (EAPD), where he practiced law for 10 years. Mr. Muniz's practice at EAPD focused on the representation of life science venture funds as well as their portfolio companies in general corporate matters and in investment and liquidity transactions.

Alzheimer's disease is characterized by the formation of amyloid beta plaques in the brain. Plaques are primarily composed of two main forms of amyloid beta: AB40 and AB42. Satori's program aims to reduce the amount of AB42 in the brain by modulating gamma-secretase, thus lowering brain amyloid, plaque formation and associated damage to normal neuronal function. Studies have demonstrated Satori's proprietary class of gamma-secretase modulators (GSMs) achieve a reduction in AB42 levels without altering total amyloid beta levels in cell lines and animal models of the disease. The Company intends to file an IND on the lead modulator of gamma-secretase in 2012.

About Satori™ Pharmaceuticals

Satori Pharmaceuticals is developing life-changing therapeutics for Alzheimer's disease. Driven by a world-class team of drug development veterans and advisors, Satori is advancing best-in-industry medicines that aim to slow or stop disease progression. Our drug candidates selectively modulate gamma secretase, the enzyme generating the neurotoxic peptides that form amyloid beta plaques – the signature of this debilitating disease.

 


'/>"/>
SOURCE Satori(TM) Pharmaceuticals
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Satori Pharmaceuticals Adds Key Senior Members to its Leadership Team
2. Auxilium Pharmaceuticals, Inc. Receives Clearance to Resume Clinical Trials for XIAFLEX(TM)
3. Vion Pharmaceuticals Completes Accrual of 85 Patients to its Pivotal Phase II Trial of Cloretazine(R) (VNP40101M) in Elderly AML
4. Solvay Pharmaceuticals, Inc. and Wyeth Pharmaceuticals Announce Receipt of an FDA Action Letter for Bifeprunox, an Investigational Treatment for Schizophrenia
5. Callisto Pharmaceuticals Opens Additional Sites for Phase II Clinical Trial of Atiprimod in Advanced Carcinoid Cancer Patients
6. WallSt.net (www.wallst.net) Updates the Investment Community Through an All-New Interview With RegeneRx Biopharmaceuticals CEO
7. Quark Pharmaceuticals, Inc. Presented Positive Preclinical Results of Systemic RNAi Compound for Acute Renal Failure (ARF)
8. Peregrine Pharmaceuticals Doses First Patient in Cotara(R) Phase II Brain Cancer Trial In India
9. Nabi Biopharmaceuticals Announces Second Quarter 2007 Financial Results
10. Access Pharmaceuticals Provides Update on Clinical Development Plan of ProLindac
11. Quark Pharmaceuticals Extends Research Agreement with State University of New York for Proprietary siRNA Compounds for Acute Hearing Loss
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/24/2016)... 2016 Dublin ... addition of the " Global Markets for Spectroscopy ... This report focuses on the ... review, including its applications in various applications. The report ... includes three main industries: pharmaceutical and biotechnology, food and ...
(Date:6/24/2016)... Research and Markets has announced the addition of ... report to their offering. ... The World Market for Companion Diagnostics covers the world market ... the report includes the following: , World ... Region (N. America, EU, ROW), 2015-2020 , World IVD ...
(Date:6/23/2016)... , June 23, 2016  MedSource announced ... as its e-clinical software solution of choice.  This ... best possible value to their clients by offering ... The preferred relationship establishes nowEDC as the EDC ... for MedSource,s full-service clients.  "nowEDC has long been ...
Breaking Medicine Technology:
(Date:6/26/2016)... Creek, Michigan (PRWEB) , ... June 26, 2016 , ... ... joined as sponsor of the 2016 Cereal Festival and World’s Longest Breakfast Table in ... in honor of the city’s history as home to some of the world’s leading ...
(Date:6/26/2016)... Birmingham, Lake Orion, Clarkston, Michigan (PRWEB) , ... ... ... their direction with respect to fertility once they have been diagnosed with endometriosis. ... for tolerable intercourse but they also require a comprehensive approach that can help ...
(Date:6/25/2016)... , ... June 25, 2016 , ... "With 30 hand-drawn ... specific project," said Christina Austin - CEO of Pixel Film Studios. , ProHand ... all within Final Cut Pro X . Simply select a ProHand generator and ...
(Date:6/25/2016)... ... June 25, 2016 , ... On Friday, June 10, Van ... Wellness at Work award to iHire in recognition of their exemplary accomplishments in worksite ... 7th annual Maryland Workplace Health & Wellness Symposium at the BWI Marriott in Linthicum ...
(Date:6/24/2016)... Michigan (PRWEB) , ... June 24, 2016 , ... June ... about the dangers associated with chronic pain and the benefits of holistic treatments, ... individuals who are suffering with Sickle Cell Disease. , Sickle Cell Disease (SCD) is ...
Breaking Medicine News(10 mins):