SuppreMol Secures €15.5M to Advance Protein Therapeutics for Autoimmune Diseases
Firm expects Series C financing to carry it into 2013.!--h2>
SuppreMol closed a €15.5 million Series C financing round. SuppreMol will use the proceeds for the GMP production and further clinical investigation of its lead candidate, SM101. The compound is a recombinant human soluble Fc gamma receptor IIb for the treatment of primary immune thrombocytopenia (ITP) and systemic lupus erythematosus (SLE).
For the treatment of ITP, SM101 has been granted orphan drug designation in the EU and the U.S. In the U.S. it entered Phase Ib/IIa studies early this year. SuppreMol plans to initiate a Phase IIa study in SLE mid next year.
In addition, the funds will be used for the preclinical development of an anti-FcγRIIb mAb. SuppreMol is studying the antibody as a treatment for certain autoimmune diseases.
“The financing round will enable us to complete all our planned clinical studies, plus the preclinical development of our monoclonal antibody, and extends our runway well into 2013,” states Peter Buckel, CEO of SuppreMol. “By then, we hope to have clinical proof-of-concept in two autoimmune indications, providing us with a strong position for further strategic options.”
SuppreMol was founded in 2002 as a spin-off from the laboratory of Robert Huber, Ph.D., of the Max Planck Institute for Biochemistry and Nobel Prize winner for chemistry in 1988. The company has reportedly raised €35.2 million in three financing rounds since May 2006 and received over €2 million in research grants since 2007.