Biotech vets back $22M A round for neuroscience startup

Posted under Alba Therapeutics, Blake Paterson, Blog, celiac disease, Cerecor, Companies, Diagnostics, Funding, larazotide acetate, Medical Devices, Medical Supply, Pharmaceuticals, R&D, Startups, Universities, Videos by john

The former CEO of Alba Therapeutics, Blake Paterson, has put together a $22 million A round to launch his new biotech in Baltimore. Describing itself as a drug developer devoted to finding new treatments for the human nervous system, Cerecor says it has gathered a group of unnamed "accredited investors" to back the company, including members of its board.

The board includes some recognizable faces, including Sol Barer, the former CEO of Celgene. Another board member, Isaac Blech, is credited with helping to establish Celgene, ICOS and Nova Pharmaceutical. The last heard from Alba was a press release back in early 2011 laying out an option deal that Cephalon had struck for acquiring all the assets related to its lead therapy, larazotide acetate, following a Phase IIb for celiac disease. Paterson, who co-founded Alba, was replaced by one of the venture backers back in 2008.

According to the biotech's website, Cerecor is planning to advance research undertaken at Johns Hopkins University. Johns Hopkins' Solomon H. Snyder chairs the scientific advisory board.

"The completion of this financing is an important step in bringing our lead product, FP01 for the treatment of chronic and acute cough, to the market and to support our early preclinical efforts in cognition and schizophrenia. We are delighted by the enthusiastic response to our offering, as it confirms the quality of our company, its product pipeline and our founding team," said Paterson in a statement.

- here's the press release
- get the story from the Baltimore Business Journal

Cambridge, MA startup snags $20M for therapeutic vaccine program

Posted under Blog, celiac disease, Companies, Diagnostics, Funding, ImmusanT, Medical Devices, Medical Supply, Pharmaceuticals, Startups, Universities, Videos by John Carroll

After importing the IP for a new therapeutic vaccine that promises to desensitize celiac disease patients to the toxic effects of gluten, the newly established ImmusanT has rounded up $20 million from a single investor to back its mid-stage clinical development work.

Launched in Cambridge, MA last March, ImmusanT quickly attracted attention from the biotech community for Nexvax2, which pooled three gluten-derived peptides into an injection for celiac patients. Drawing on the work of the company's scientific founder, the Australian Bob Anderson, who folded his biotech down under and relocated to the U.S. to work with ImmusanT co-founder Leslie Williams, the startup quickly pushed through Phase I with the backing of angel investors.

All the money for the Series A is coming from Vatera Healthcare Partners, which also backed Pearl Therapeutics. And ImmusanT is working with Inova to develop a diagnostic that can be used to ID the celiac disease patients able to benefit from the therapeutic vaccine.

"There is tremendous enthusiasm for Nexvax2 from celiac patients and clinicians who want a therapy that allows patients to resume a normal diet and return to good health and improved quality of life," Williams said in a statement. "The financial backing and support of Vatera Healthcare Partners will allow us to round out our team and advance our research and development programs to bear out this hypothesis."

- here's the press release