Cellective Therapeutics Announces $27.5 Million Series A Financing and Names Chief Executive Officer, Arthur M. Mandell.DURHAM, N.C. -- Cellective Therapeutics, a drug development company focused on discovering and developing novel therapeutic antibodies to treat a variety of diseases, announced today that it has completed a Series A financing round of $27.5 million and has appointed Arthur M. Mandell as President and Chief Executive Officer. Cellective Therapeutics, created in mid 2003 based on technology licensed from Duke University and the Dana Farber Cancer Institute, focuses on B-cells, a class of cells in the immune system immune system Cells, cell products, organs, and structures of the body involved in the detection and destruction of foreign invaders, such as bacteria, viruses, and cancer cells. Immunity is based on the system's ability to launch a defense against such invaders. . These cells are becoming increasingly important as relevant targets for treatment in cancer and 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 like B-cell lymphoma B-cell lymphoma is a type of non-Hodgkin lymphoma affecting B cells. Types include:
Chronic, progressive autoimmune disease causing connective-tissue inflammation, mostly in synovial joints. It can occur at any age, is more common in women, and has an unpredictable course. . The Series A funds will be used to further build the company's capabilities and to accelerate development of the company's lead antibodies. Mr. Mandell brings 25 years of management experience in both the pharmaceutical and biotechnology sectors, with extensive expertise in business development, strategic planning Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people. , product development and commercialization of products and services. Mr. Mandell was President and Chief Executive Officer of Stemron Corporation and prior to that served as Senior Vice President and Chief Business Officer of Human Genome Sciences Human Genome Sciences NASDAQ: HGSI is a biopharmaceutical corporation founded in 1992. Its stated purpose is to "discover, develop, manufacture and market innovative drugs that serve patients with unmet medical needs, with a primary focus on protein and antibody drugs. , located in Gaithersburg, Maryland. Before Human Genome Sciences, Mr. Mandell spent over 13 years in various leadership positions at Syntex Corporation and held executive and operations positions at ZS Associates and Intel Corporation (company) Intel Corporation - A US microelectronics manufacturer. They produced the Intel 4004, Intel 8080, Intel 8086, Intel 80186, Intel 80286, Intel 80386, Intel 486 and Pentium microprocessor families as well as many other integrated circuits and personal computer networking . Durham-based Intersouth Partners led the Series A financing, and was joined by seven other prominent venture partners: Alta Partners, BA Venture Partners, Forward Ventures, Genentech, Inc., Latterell Venture Partners, MedImmune Ventures, Inc., and Sofinnova Ventures. "We have worked with Cellective since its scientific founder, Dr. Tom Tedder, first started the company, and we're proud to see Cellective reach this important milestone," said Garheng Kong, M.D., Ph.D., of Intersouth Partners. "Dr. Tedder is a recognized world leader in B-cell technology. The technology is unique, the lead antibodies being developed are promising, and there are significant market opportunities being pursued. The appointment of Art Mandell as President and Chief Executive Officer further strengthens the company's position." "I am pleased to take this position to lead Cellective Therapeutics at such an exciting time and to have this high quality and respected group of investors as my partners," said Mr. Mandell, Chief Executive Officer of Cellective Therapeutics. The combination of a strong group of venture and corporate investors, an expert scientific founder, several lead antibody candidates, a fertile antibody pipeline in progress, and a deep talent pool in the mid Atlantic region makes this opportunity extraordinary. This Series A funding will support the rapid development of our multiple antibody programs focused on several indications in both oncology and 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 ." About Cellective Therapeutics Cellective Therapeutics, currently with offices in North Carolina North Carolina, state in the SE United States. It is bordered by the Atlantic Ocean (E), South Carolina and Georgia (S), Tennessee (W), and Virginia (N). Facts and Figures Area, 52,586 sq mi (136,198 sq km). Pop. and Maryland, is an early stage drug development company pursuing novel therapeutic monoclonal antibodies in the areas of autoimmune disease and oncology by leveraging their vast understanding and experience in the field of B-cell biology. Cellective has the ability to identify important and novel therapeutic B-cell targets and to create, screen and develop monoclonal antibodies against these targets. |
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