AlloCure, Inc., a Burlington, MA-based clinical stage biotechnology company focused on the treatment of kidney disease, has closed a $25m Series B venture financing.
Backers included new investor Lundbeckfond Ventures, as well as previous investors SV Life Sciences and Novo A/S.
The company intends to use the funding,
In conjunction with the funding, Mette Kirstine Agger, managing partner of Lundbeckfond Ventures, has joined AlloCure’s board of directors.
Led by President and CEO Robert M. Brenner, M.D., the company intends to use the funding to continue to develop AC607, a novel biologic therapy under development for the treatment of Acute kidney injury (AKI) and other grievous illnesses. AlloCure will conduct a multicenter, randomized, double-blind, placebo controlled trial of AC607 for the treatment of AKI beginning this Summer at leading academic institutions and hospitals in the United States.