Biotech firm Peptimmune secures $8.9M in Series D

By Mass High Tech Staff

Peptimmune pens Novartis deal worth up to $500M [January 15, 2009]

MPM joins in $21M private placement for ARYx [November 13, 2008]

Predictive Biosciences pulls in $21M in round two [October 16, 2008]

Ironwood aims for area’s next blockbuster drug [October 10, 2008]

Peptimmune Inc. reports it has landed $8.9 million in a second close of a Series D preferred stock offering.

New Enterprise Associates, MPM Capital, Hunt Ventures L.P., Boston Medical Investors, Silicon Valley Bank Capital and Peptimmune chairman of the board Frederic Price participated in the financing.

Cambridge-based Peptimmune said it would use the financing to evaluate PI-2301, the company’s drug intended to treat multiple sclerosis. Peptimmune said it is conducting Phase Ib clinical trials to demonstrate the safety, tolerability, pharmacokinetics and pharmacodynamics of PI-2301 in patients with secondary progressive multiple sclerosis.

Following those trials, Peptimmune plans to initiate a Phase II study in patients in 2009, the company said.

In January, Peptimmune closed on the $8.2 million first tranche of the Series D funding.

Comments

If you are commenting using a Facebook account, your profile information may be displayed with your comment depending on your privacy settings. By leaving the 'Post to Facebook' box selected, your comment will be published to your Facebook profile in addition to the space below.