ITBMed, a Stockholm, Sweden-based biopharmaceutical company focusing on the development of specific immunomodulatory biologics for use primarily in organ and stem cell transplantation, completed an equity investment of up to $67m.
The round was led by Mr. Pablo Legorreta, the founder and CEO of Royalty Pharma.
The company intends to use the funds to develop Siplizumab in its lead indication of induction of tolerance in organ transplantation, where it has been used in a phase II trial to permit organ transplants without the need of lifelong immunosuppression, and to continue to optimize its research efforts led by researchers and clinicians to develop treatments for transplant patients.
Led by Dr. Erik Berglund, CEO, ITBMed is a biopharmaceutical company focusing on the development of specific immunomodulatory biologics for use primarily in organ and stem cell transplantation. The lead candidate drug Siplizumab is a monoclonal antibody in late-stage clinical development. The research that led to Siplizumab’s potential use in transplantation and its clinical development were initiated by Prof. David H. Sachs, Professor Emeritus at Harvard Medical School and Massachusetts General Hospital, and currently Professor of Surgery at Columbia University, and CTO of ITBMed.
ITBMed also has a preclinical research and development profile, including a collaboration with Columbia University, New York, USA, aiming to provide novel IP for new indications and treatments.