DecImmune Therapeutics Secures $2.25 Million in Development Funding
News Feb 27, 2013
DecImmune Therapeutics announced that it has completed a $2.25 million equity financing. The financing is from a new investor Broadview Ventures, along with existing investors Astellas Venture Management and HealthCare Ventures. The new funds will enable rapid advancement toward IND filing for the company’s proprietary antibody therapeutic to reduce tissue damage and improve ventricular function associated with myocardial infarction. Regaining full function after a heart attack can be complicated by irreversible tissue damage and scar formation that leads to a significant loss in cardiac pumping efficiency. In a range of experimental models the company has shown it is possible to reduce damage to heart tissue by using their proprietary therapeutic antibody. In these models the reduction in damage to heart tissue results in pumping efficiency returning to normal levels. DecImmune is also investigating this targeted approach to reduce tissue damage for a range of other acute and chronic post-injury settings.
The funding announced today will support preclinical development of DecImmune’s therapeutic program targeting heart failure as an adjunct to current standards of care. Heart attack remains the leading cause of death in the United States, responsible for 1.2 million deaths per year.
“Our lead monoclonal antibody has shown robust activity in a range of models of myocardial infarct,” said Dr. Walter Newman, Chief Scientific Officer of DecImmune. “This funding sets the stage for completion of late stage preclinical studies as we advance toward IND filing.”
“Broadview Ventures’ core expertise lies in identifying and supporting the most promising cardiovascular and stroke related therapies,” said Christopher Colecchi, Managing Director of Broadview Ventures. “We believe that DecImmune’s novel therapeutic approach could have a major impact on the treatment of patients with cardiovascular disease.”