SuppreMol GmbH, a privately held biopharmaceutical company developing innovative therapeutics for the treatment of autoimmune diseases, today announced the closing of a EUR 15.5 million Series C financing round.
The round was led by MIG AG (Munich, Germany) with BioMedPartners AG (Basel, Switzerland) as co-lead. The other existing investors Santo Holding GmbH (Poecking, Germany), KfW Mittelstandsbank (Bonn, Germany), Bayern Kapital GmbH (Landshut, Germany) and Max-Planck-Gesellschaft (Munich, Germany) also participated in the round. The round was joined by FCP Biotech Holding GmbH (Graefelfing, Germany) as new investor.
SuppreMol will use the proceeds for the GMP production and further clinical studies of its lead candidate SM101, a recombinant human soluble Fc gamma receptor IIb for the treatment of Primary Immune Thrombocytopenia (ITP) and of Systemic Lupus Erythematosus (SLE). ITP is a serious bleeding condition characterized by deficient blood clotting due to auto-antibodies destroying the body's platelets. For the treatment of ITP, SM101 has been granted orphan drug designation in the European Union and in the US and has entered Phase Ib/IIa clinical studies early this year. SLE is a chronic inflammatory autoimmune disease of unknown etiology affecting multiple organs, which can lead to organ failure. 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-FcgRIIb monoclonal antibody, which, due to the different properties of this molecule compared to SM101, may have beneficial therapeutic potential in 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,“ said Dr 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 has made impressive progress during the last two years in advancing its pipeline,“ said Dr Markus Hosang, General Partner at BioMedPartners. „The round now provides the basis for the next value enhancing milestones, as it will enable SuppreMol to conduct further clinical trials and to explore different indication areas with high market potential.”