Date: 2018-04-02
Type of information: Financing round
Company: ITBMed (Sweden)
Investors: Royalty Pharma (US - NY)
Amount: up to $67 million
Funding type: financing round
Planned used:
- ITBMed is a Swedish biopharmaceutical company focusing on the development of specific immunomodulatory biologics for use primarily in organ and stem cell transplantation. The lead candidate drug siplizumab is a monoclonal antibody in late-stage clinical development, which has shown significant potential in revolutionizing the treatment of organ transplant patients by allowing the complete discontinuation of all immunosuppressive drugs and restoration of a normal life. The research that led to siplizumab’s potential use in transplantation and its clinical development were initiated by Prof. David H. Sachs, professor emeritus at Harvard Medical School and Massachusetts General Hospital, and currently professor of surgery at Columbia University, and CTO of ITBMed.
- These funds will be used to develop siplizumab in its lead indication of induction of tolerance in organ transplantation, where it has been successfully used in a phase II trial to permit organ transplants without the need of lifelong immunosuppression. The funding will allow ITBMed to continue to optimize its research efforts led by world-class researchers and clinicians to develop groundbreaking treatments for transplant patients.
Others:
- • On April 2, 2018, ITBMed announced the completion of an equity investment of up to $67 million, led by Mr. Pablo Legorreta, the founder and CEO of Royalty Pharma. Pablo Legorreta is the Founder & CEO of Royalty Pharma. With over $18 billion in assets, Royalty Pharma is the largest life sciences investment firm as well as the industry leader in the acquisition of royalties in leading biopharmaceutical products.
Therapeutic area: Transplantation
Is general: Yes
