ChemomAb announces USD10m from Series B funding agreement.
M2 EQUITYBITES-December 5, 2017-ChemomAb announces USD10m from Series B funding agreement
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Bio-pharmaceutical start-up ChemomAb revealed on Monday the completion of a USD10m funding round led by OrbiMed Israel and Peter Thiel.
Additionally, SBI Japan-Israel Innovation Fund and Milestone Venture participated in the round. This was the second round from OrbiMed Israel and private investors.
According to Dr Adi Mor, ChemomAb CEO, the current funding round will enable the company to move forward with its clinical programme for monoclonal antibody, while examining its efficacy and safety profile in patients with non-alcoholic fatty liver disease (NASH) as well as support its continued development for additional fibrotic orphan indications and test its effectiveness in these diseases.
The company said its leading monoclonal antibody product, which is currently in phase 1 clinical trials in Israel, is directed against a key protein in the control of cellular response in a disease state. The antibody is designed to treat patients with fibrotic and inflammatory diseases through a novel dual mechanism of action that interferes with fibrosis processes directly as well as attenuates the inflammatory process that supports the fibrotic milieu and disease progression.
NASH is a chronic liver disease associated with steatosis, or accumulation of fat within the liver, that can lead to inflammation, progressive fibrosis and cirrhosis.
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|Publication:||M2 EquityBites (EQB)|
|Date:||Dec 5, 2017|
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