Free Newsletter
Register for our Free Newsletters
Newsletter
Zones
Advanced Composites
LeftNav
Aerospace
LeftNav
Amorphous Metal Structures
LeftNav
Analysis and Simulation
LeftNav
Asbestos and Substitutes
LeftNav
Associations, Research Organisations and Universities
LeftNav
Automation Equipment
LeftNav
Automotive
LeftNav
Biomaterials
LeftNav
Building Materials
LeftNav
Bulk Handling and Storage
LeftNav
CFCs and Substitutes
LeftNav
Company
LeftNav
Components
LeftNav
Consultancy
LeftNav
View All
Other Carouselweb publications
Carousel Web
Defense File
New Materials
Pro Health Zone
Pro Manufacturing Zone
Pro Security Zone
Web Lec
Pro Engineering Zone
 
 
 
News

TolerRx, Inc. Advance TRX4 in Type 1 Diabetes - Adds seven new investors including FrontPoint Partners

BTG : 26 September, 2006  (Technical Article)
TolerRx, Inc., a biopharmaceutical company focused on the discovery, development, and commercialization of novel therapies to treat patients with diseases of the immune system, announced that it has completed a $35.6 million financing, which included funding from the Juvenile Diabetes Research Foundation, the world's largest charitable sponsor of research in Type 1 diabetes. The funds will support the clinical development of TolerRx's lead product, TRX4, an anti-CD3 monoclonal antibody in development for Type 1 diabetes and psoriasis. TolerRx is currently conducting clinical trials of TRX4 in subjects with Type 1 diabetes and plans to initiate a Phase III pivotal trial.
TolerRx, Inc., a biopharmaceutical company focused on the discovery, development, and commercialization of novel therapies to treat patients with diseases of the immune system, announced that it has completed a $35.6 million financing, which included funding from the Juvenile Diabetes Research Foundation, the world's largest charitable sponsor of research in Type 1 diabetes. The funds will support the clinical development of TolerRx's lead product, TRX4, an anti-CD3 monoclonal antibody in development for Type 1 diabetes and psoriasis. TolerRx is currently conducting clinical trials of TRX4 in subjects with Type 1 diabetes and plans to initiate a Phase III pivotal trial.

FrontPoint Partners, LLC, a new investor to the company, led the round which included six other new investors: Mesirow Financial, Swiss Re, QVT Fund LP, IBT Management Corporation, Brookstone Capital, in addition to the JDRF funding. Existing investors participating included: Skyline Ventures, Bear Stearns, Sprout Group, Rho Ventures, Artal Services N.V., and HealthCare Ventures.

'Phase II study results demonstrate that TRX4 is able to preserve beta cell function for up to a year and a half after a short course of therapy, ' said Chip Skowron, M.D., Ph.D., of FrontPoint Partners. 'In addition to reducing insulin need, the preservation of beta cell function will likely result in a significant reduction of the long term complications associated with Type 1 diabetes. In following, TRX4 therapy could provide patients with substantial clinical benefit.'

'We are extremely pleased with the enthusiastic reception we received from investors. The partnership with JDRF and the investment by our new and existing investors validates the progress we have made with the TRX4 program and our commitment to bring this novel therapy to patients with Type 1 diabetes,' said Dr. Douglas J. Ringler, President and Chief Executive Officer of TolerRx. 'These funds, combined with JDRF's support and expertise, will allow us to further execute our plan to move TRX4 into a Phase III pivotal trial in new-onset Type 1 diabetes this year.'

'Anti-CD3 therapy has shown great promise for the treatment of Type 1 diabetes. JDRF has financially supported prior clinical studies with TRX4, so our partnership with TolerRx for the clinical development of TRX4 is a natural progression of our commitment to bring new therapies to patients with Type 1 diabetes,' said JDRF Executive Vice President for Research, Richard Insel, M.D.
Bookmark and Share
 
Home I Editor's Blog I News by Zone I News by Date I News by Category I Special Reports I Directory I Events I Advertise I Submit Your News I About Us I Guides
 
   © 2012 NewMaterials.com
Netgains Logo