SuppreMol Closes €15.5M Series C Financing Round
Published On December 17, 2010 |
SuppreMol GmbH, a Martinsried/Munich Germany-based biopharmaceutical company developing innovative therapeutics for the treatment of autoimmune diseases, closed a €15.5m Series C financing round.
The round was led by MIG AG and BioMedPartners AG, with participation from existing investors Santo Holding GmbH, KfW Mittelstandsbank, Bayern Kapital and Max-Planck-Gesellschaft and new investor FCP Biotech Holding GmbH.
SuppreMol intends to use the proceeds for the GMP production and further clinical studies of its lead candidate, SM101, a recombinant human soluble Fc gamma receptor IIb for the treatment of:
- Primary Immune Thrombocytopenia (ITP), a serious bleeding condition characterized by deficient blood clotting due to auto-antibodies destroying the body’s platelets, and
- Systemic Lupus Erythematosus (SLE), a chronic inflammatory autoimmune disease of unknown etiology affecting multiple organs, which can lead to organ failure.
The company plans to initiate a Phase IIa study in SLE mid next year.
In addition, the funds will be used for the preclinical development of an anti-FcgRIIb monoclonal antibody, which, due to the different properties of this molecule compared to SM101, may have beneficial therapeutic potential in certain autoimmune diseases.
SuppreMol, which is led by CEO Dr Peter Buckel, has also been awarded research funding of €1.6m by the German Federal Ministry of Education and Research (BMBF).