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News Release - November 27, 2017
Medeor Therapeutics Raises $57 Million In Series B FinancingCompany to Use Proceeds to Advance Late-Stage Cellular Immunotherapy Programs in Kidney Transplant Patients
SAN MATEO, Calif., Nov. 27, 2017 -- (Healthcare Sales & Marketing Network) -- Medeor Therapeutics, Inc., a clinical-stage biotechnology company dedicated to the discovery, development and commercialization of personalized cellular immunotherapies, today announced that it has closed an oversubscribed $57 million Series B financing, led by RA Capital Management. Additional new investors included Sofinnova Ventures and 6 Dimensions Capital, who were joined by existing investors Vivo Capital and WuXi Healthcare Ventures. In conjunction with the financing, Peter Kolchinsky, Ph.D., Portfolio Manager and Managing Director at RA Capital, and Anand Mehra, M.D., General Partner at Sofinnova Ventures, have joined the company's Board of Directors.
This financing will support the Phase 3 clinical trial of MDR-101 in living donor HLA-matched kidney transplant patients, being conducted under a Special Protocol Agreement with the FDA, as well as a Phase 2b trial of MDR-102 in living donor HLA-mismatched kidney transplant patients. Medeor will also initiate development of MDR-103 for the induction of delayed immune tolerance and MDR-104 to address the needs of deceased donor kidney transplant patients.
"Organ transplantation is one of the most remarkable life-giving feats of modern medicine, though patients must deal with intense and sometimes intolerable chronic immune suppression," said Peter Kolchinsky. "Based on brilliant insights into human immunology, we believe Medeor may have elegantly transformed this procedure to meaningfully reduce the need for long-term immunosuppression, allowing patients not only to survive thanks to the generosity of a donor but also to enjoy a higher quality of life."
"Medeor has secured the regulatory clarity on its MDR-101 trial that validates the design of this pivotal trial," said Anand Mehra. "We are delighted to partner with Medeor's world-class management team with proven success in drug development, organ transplant and advanced cellular products."
"Since Medeor's inception, we have worked to bring our potentially transformative programs to the point of pivotal clinical trials," said Steven R. Deitcher, M.D., Co-founder, President and CEO, Medeor Therapeutics. "We appreciate the capital and intellectual firepower from our new and existing investors in support of these efforts."
About Medeor Therapeutics, Inc.
Medeor Therapeutics is a clinical-stage biotechnology company dedicated to the discovery, development and commercialization of personalized cellular immunotherapies to improve outcomes in organ transplant recipients. Medeor's series of product candidates each comprise a unique composition of different types of hematopoietic organ donor-derived cells, based on breakthrough technologies discovered at Stanford University and exclusively licensed by Medeor. These product candidates are designed to produce mixed chimerism, the co-existence of both recipient and donor blood and immune cells in the recipient, to achieve donor-specific immune tolerance, to prevent transplant organ loss, to reduce or eliminate chronic immunosuppressive drug therapy, and thereby to improve patient outcomes. For more information, visit www.medeortherapeutics.com.
About RA Capital Management
RA Capital Management is a multi-stage investment manager dedicated to evidence-based investing in public and private healthcare and life science companies that are developing drugs, medical devices, and diagnostics. The flexibility of its strategy allows RA Capital to give seed funding to startups and to lead private, IPO, and follow-on financings for its portfolio companies, both facilitating the crossover process and allowing management teams to drive value creation with fewer capital concerns from inception through commercialization.
Founded in 1974, Sofinnova specializes in clinical and late preclinical investments in biopharmaceutical products. Our goal is to actively partner with entrepreneurs across all stages of company development. We seek to build world class companies that aspire to dramatically improve the current state of medical care and the lives of patients through bringing innovative products to market. For more information, please visit www.sofinnova.com.
Source: Medeor Therapeutics
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