Critical Biologics Announces Series A Financing.Morningside Ventures Invests in $7 Million Round CAMBRIDGE, Mass. -- Critical Biologics Corporation (CBC (1) (Cell Broadcast Center) See cell broadcast. (2) (Cipher Block Chaining) In cryptography, a mode of operation that combines the ciphertext of one block with the plaintext of the next block. ), a private company, today announced it has closed a Series eIA' financing with a $7 million investment from Morningside Ventures. The funds will enable CBC to advance its lead recombinant human plasma gelsolin gel·sol·in n. A calcium-dependent actin-binding protein that modulates actin filament length and gelation and thus influences the structure of the cytoskeleton and plays a key role in cellular motility and differentiation. (rhu-pGSN) targeted for the prevention of life-threatening critical care complications associated with low plasma gelsolin levels. Gelsolin is a naturally occurring protein found inside cells as well as in the plasma. Circulating plasma gelsolin levels decrease shortly after a variety of tissue injuries such as trauma, major surgery, burns and sepsis. Severe depletion of plasma gelsolin has been found to correlate strongly with adverse clinical outcomes in critical care patients such as longer ventilator times, longer duration of ICU ICU intensive care unit. ICU abbr. intensive care unit ICU see intensive care unit. ICU stays and death. Experiments in animal models have shown that disease progression and adverse outcomes can be averted by a timely replenishment of plasma gelsolin using rhu-pGSN. It is therefore anticipated that, in high-risk critical care patients, the early detection of reduced plasma gelsolin levels followed by replacement with rhu-pGSN could provide an efficacious and well tolerated therapeutic intervention. In commenting on the investment, CBC's co-founder and Chairman, James Fordyce James Fordyce, DD (b. 1720 in Aberdeen, Scotland, d. 1 October 1796 in Bath, England), was an Eighteenth-century clergyman. He is best known for his collection of sermons published in 1760 as Sermons for Young Women, popularly known as Fordyce's Sermons. said, "There could not have been a more favorable outcome to our fund raising efforts over the past year than to have Morningside Ventures take this investment interest in Critical Biologics. Morningside's long-term view and willingness to help guide our strategic direction has already made a major contribution to our development program. Together we will build a very successful company." "Morningside is very excited about the potential of plasma gelsolin replacement therapy and the potential benefit it will bring to critical care," commented Dr. Gerald L. Chan, recently appointed board member of CBC. "We look forward to working with CBC and its management to develop this promising critical care diagnostic and treatment protocol." About Critical Biologics Critical Biologics Corporation, based in Cambridge, MA, began fund raising in 2006 with the strategic intent to develop and commercialize diagnostics and therapeutics that predict and regulate inflammatory responses to life-threatening diseases. In particular, CBC is focused on a theranostic approach to treat critical care patients with low plasma gelsolin levels at high risk of life-threatening complications. Gelsolin was first discovered by Dr. Tom Stossel, American Cancer Society American Cancer Society, n.pr established in 1913, this national volunteer-based health organization is committed to the elimination of cancer through prevention and treatment and to diminishing cancer suffering through advocacy, scholarship, research, Professor of Medicine at Harvard Medical School Harvard Medical School (HMS) is one of the graduate schools of Harvard University. It is a prestigious American medical school located in the Longwood Medical Area of the Mission Hill neighborhood of Boston, Massachusetts. and Director of the Translational Medicine translational medicine Molecular medicine The constellation of activities which seek to translate the science of gene discovery, gene transfer, and functional genomics into gene-targeted therapies Division and Senior Physician in the Hematology Division at Brigham & Women's Hospital Women's Hospital of Greensboro (part of Moses Cone Health System) As the state's first free-standing hospital dedicated to women, the Women's Hospital of Greensboro is a 134-bed hospital is dedicated to providing state-of-the-art, compassionate and personalized care to women . In October 2006, CBC entered into an agreement with Brigham & Women's Hospital to license technology and intellectual property pertaining to the therapeutic and diagnostic use of plasma gelsolin to predict and pre-emptively treat a variety of medically and economically important conditions. About Morningside Group Morningside Group (www.morningside.com) is a diversified investment group founded in 1986 by the Chan family of Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. . It is engaged primarily in private equity and venture capital investments. The group has investments in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , Europe, across Asia-Pacific, and since 1992, in Mainland China. Morningside Group was one of the earliest institutional investors in China's internet industry and in recent years has been an active investor in China's emerging biotechnology sector. |
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