Alvine Pharmaceuticals Raises $21.5 Million Series A Extension.SAN CARLOS, Calif. -- Alvine Pharmaceuticals, Inc., a privately held biopharmaceutical company focused on developing and commercializing therapeutics for autoimmune/gastrointestinal diseases, today announced the closing of a $21.5 million extension of its Series A financing. New investor Panorama Capital led the financing round, joining founding investors InterWest Partners, Prospect Venture Partners, Sofinnova Ventures, Black River Asset Management and Flagship Ventures. Proceeds from the Series A extension will fund the Company's recently initiated Phase 2a clinical trial of its lead compound ALV ALV Arvonlisävero (Finnish: value added tax) ALV Avian Leukosis Virus ALV Andorra La Vella (capital of Andorra) ALV Autonomous Land Vehicle ALV Asta La Vista ALV Alvin, Texas ALV Air Launched Vehicle 003 for the treatment of celiac disease celiac disease: see sprue. celiac disease or nontropical sprue Digestive disorder in which people cannot tolerate gluten, a protein constituent of wheat, barley, malt, and rye flours. . "This funding will support the continued development of ALV003 as an innovative protease protease /pro·te·ase/ (pro´te-as) endopeptidase. pro·te·ase n. Any of various enzymes, including the proteinases and peptidases, that catalyze the hydrolytic breakdown of proteins. therapy for the treatment of celiac disease, and further our goal to be the leading company in this space," said Abhay Joshi, Ph.D., President and Chief Executive Officer of Alvine. "We are pleased to have the committed support of our existing investors and to welcome our new investor, Panorama Capital, given their history of backing high quality biopharmaceutical companies." Concurrent with the closing of the financing, Gaurav Aggarwal, M.D. of Panorama Capital has joined Alvine's Board of Directors. "We are very excited to lead this investment in Alvine. It is unusual to find a company that has the combination of Alvine's scientific expertise, seminal patent portfolio and seasoned management team, all in pursuit of a truly unmet medical need with large commercial potential," said Dr. Aggarwal. "We are pleased to be able to support Alvine's work to develop the first pharmaceutical therapy for celiac disease." About Celiac Disease Celiac disease is the most common hereditary autoimmune disease autoimmune disease, any of a number of abnormal conditions caused when the body produces antibodies to its own substances. In rheumatoid arthritis, a group of antibody molecules called collectively RF, or rheumatoid factor, is complexed to the individual's own gamma with prevalence estimated to be as high as 1-2% in the U.S. and E.U. Intestinal inflammation in celiac disease is triggered by the ingestion ingestion /in·ges·tion/ (-chun) the taking of food, drugs, etc., into the body by mouth. in·ges·tion n. 1. The act of taking food and drink into the body by the mouth. 2. of gluten in genetically susceptible individuals. Gluten is a protein found naturally in wheat, rye, and barley, and is one of the most common and nutritionally significant ingredients in the human diet. Patients with celiac disease mount an immune response immune response n. An integrated bodily response to an antigen, especially one mediated by lymphocytes and involving recognition of antigens by specific antibodies or previously sensitized lymphocytes. to gluten and gluten fragments, resulting in systemic immune-mediated damage in the gut and other organs. Gluten ingestion can be associated with symptoms such as nausea, diarrhea, constipation and rash. Complications of celiac disease can include osteoporosis, anemia, dermatitis, weight loss, diabetes, central nervous system conditions including depression, autoimmune diseases Autoimmune diseases A group of diseases, like rheumatoid arthritis and systemic lupus erythematosus, in which immune cells turn on the body, attacking various tissues and organs. Mentioned in: Complement Deficiencies, Premature Menopause and malignancies. The only available option for individuals diagnosed with celiac disease today is a life-long adherence to a strict gluten-free diet, which is difficult to follow. About Alvine Alvine Pharmaceuticals, Inc. is a privately held biopharmaceutical company dedicated to developing and commercializing therapeutics for autoimmune/gastrointestinal diseases. Alvine's lead product candidate, ALV003, is being developed to treat patients with celiac disease. For additional information about the company, please visit www.alvinepharma.com. About ALV003 ALV003 is an orally administered mixture of two recombinant proteases engineered to degrade gluten into non-immunogenic fragments, by targeting the glutamine glutamine (gl  `təmēn), organic compound, one of the 20 amino acids commonly found in animal proteins. and proline proline (prō`lēn), organic compound, one of the 20 amino acids commonly found in animal proteins. Only the l-stereoisomer appears in mammalian protein. residues that are common in
gluten. ALV003 consists of a glutamine specific cysteine cysteine (sĭs`tēn), organic compound, one of the 20 amino acids commonly found in animal proteins. Only the l-stereoisomer participates in the biosynthesis of mammalian protein. protease
(EP-B2) and a proline specific prolyl endopeptidase (PEP).
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