Palvella Therapeutics, Inc., a Wayne, PA – based rare disease biopharmaceutical company focused on developing and commercializing pathogenetically targeted therapies for serious genetic diseases with no approved treatments, raised $45m in Series C financing.
Backers included CAM Capital, Samsara BioCapital, BVF Partners L.P., Adams Street Partners, Opaleye Management, Ligand Pharmaceuticals (Nasdaq: LGND), Agent Capital, BioAdvance and Nolan Capital (the investment fund of former AveXis CEO Sean Nolan). In conjunction with the funding, Scott Morenstein, Managing Director of CAM Capital, and Cory Freedland, Principal of Samsara BioCapital, joined Palvella’s Board of Directors.
The company intends to use the capital for the advancement of PTX-022 (QTORIN™ 3.9% rapamycin anhydrous gel) for the treatment of adults with PC, a rare, chronically debilitating and lifelong genetic disease.
Led by Wes Kaupinen, President and Chief Executive Officer, Palvella Therapeutics is a rare disease biopharmaceutical company focused on developing and commercializing pathogenetically targeted therapies for serious genetic diseases with no approved treatments. Its development model involves partnering with patient advocacy organizations and their patient registries to design fit-for-purpose, accelerated clinical development programs aimed at expediting the introduction of targeted therapies to patients who currently lack any approved treatment options. Its lead program, PTX-022 (QTORIN™ 3.9% rapamycin anhydrous gel), is in a Phase 2/3 pivotal study for pachyonychia congenita (PC), a rare, chronically debilitating and lifelong genetic disease estimated to affect more than 9,000 individuals in the U.S.
FinSMEs
29/05/2020