AlloCure Inc. News
AlloCure Inc. Closes $14.5MM Series A Round to Develop a Stem Cell Therapy for Acute Kidney Injury
"This financing represents a significant step forward in developing the first cell therapy to effectively treat patients who are suffering from acute kidney injury," said
Despite major advances over the past 30 years, acute kidney injury remains treatment resistant and presents a growing critical problem for a significant number of patients around the world.
"AlloCure has not only established itself as a leader in developing cell therapies to treat kidney patients," said
The investment is key to furthering the company's promising progress in developing these groundbreaking treatments and entering clinical trials. The company hopes to offer acute kidney injury patients a safe and effective treatment option for this life threatening disease in the not too distant future.
"The AlloCure team has developed an impressive scientific foundation which has enabled it to obtain all the regulatory approvals necessary to begin its Phase I Clinical Trial," said Thomas Dyrberg, Senior Partner at Novo. "We anticipate that substantial clinical progress will be made over the next few years."
The company will use the investment to fund the progression of its acute kidney disease therapy through Phase II Clinical Trials over the next three years. Funds will also be used to develop a robust pipeline targeting other large medical markets where its cell therapy technology can address chronic unmet needs.
About AlloCure
AlloCure is poised to become the first company to commercialize effective cell therapies to treat various kidney diseases, organ transplants, multi-organ injury and a number of other difficult to treat diseases. AlloCure has developed a proprietary process to manufacture cells derived from bone marrow which can be used in an allogeneic (does not require tissue matching of donor and recipient) or off-the-shelf setting. AlloCure's technology has multiple therapeutic applications which have the potential to effectively address many large medical markets. http://www.allocure.com
About SV Life Sciences
SV Life Sciences is a venture capital fund providing financing to businesses at all stages of development across the human life sciences sector, including biotechnology, pharmaceuticals, medical devices and instruments, and healthcare information technology and services. SV Life Sciences currently manages or advises five funds with capital commitments of approximately
About Novo A/B
Novo A/S is the holding company of the Novo Group, and is wholly owned by the Novo Nordisk Foundation. Novo A/S was established in 1999 to manage the assets of the Foundation and actively make investments on behalf of the Foundation. The Novo Ventures team consists of six Partners in
Company Contact: John B. Wirthlin President/CEO AlloCure (801) 583-8450 ext 307
SOURCE AlloCure Inc.
 |
 |
 |
|
||
 |
|
 |
|
||
Search Our News Using Google Search
Can't find what you want? Try using Google:
