AnTolRx Announces Series A Equity Funding From Pfizer, Juvenile Diabetes Research Foundation And Orion Equity Partners To Develop Targeted Nanoparticle Tolerance Therapeutics
CAMBRIDGE, Mass., Sept. 8, 2016 /PRNewswire/ -- AnTolRx, Inc. announced today that it has signed a Series A funding agreement with Pfizer Inc. (NYSE: PFE), Orion Equity Partners LLC and JDRF, the leading global organization funding type 1 diabetes (T1D) research. The funding parties will provide $4 million over two years to fund research and development of AnTolRx's antigen-specific Targeted Nanoparticle Tolerance Therapeutics (TNTT) to treat immune disorders including T1D. The company's technology is based on the work of Dr. Francisco Quintana, Associate Scientist at Brigham and Women's Hospital and Associate Professor of Neurology at Harvard Medical School.
"AnTolRx's nanoparticles aim to co-deliver targeted antigens and a tolerogenic factor to suppress pathogenic antigen-specific immune responses and thereby restore more normal immunoregulation in a variety of autoimmune disorders," said Mark Carthy, AnTolRx's Chief Executive Officer. "We are grateful for the funding and support we have received from Pfizer, JDRF and Orion, as we continue to focus on developing disease-modifying therapies for patients with immune disorders, including type 1 diabetes, multiple sclerosis and inflammatory bowel disease."
Pfizer led the investment round, and also has an exclusive option to in-license the company's T1D candidate upon achievement of certain milestones.
"Pfizer is committed to exploring novel approaches for inducing tolerance in autoimmune disorders, and we believe that AnTolRx's technology may have the potential to benefit patients in need," said Michael Vincent, Senior Vice President and Chief Scientific Officer, Inflammation & Immunology, Pfizer.
"JDRF is excited to participate in this syndicated equity investment with Orion and Pfizer. We understand the significance of capitalizing on early stage opportunities to cure, prevent and treat type 1 diabetes, and we believe this partnership will greatly benefit the T1D community," said Derek Rapp, JDRF president and CEO. "JDRF has funded the development of the novel, innovative science on which AnTolRx is built since the academic research stage, and we are proud to continue our support as it advances to a commercial setting."
About JDRF
JDRF is the leading global organization funding type 1 diabetes (T1D) research. Our mission is to accelerate life-changing breakthroughs to cure, prevent and treat T1D and its complications. To accomplish this, JDRF has invested nearly $2 billion in research funding since our inception. We are an organization built on a grassroots model of people connecting in their local communities, collaborating regionally for efficiency and broader fundraising impact, and uniting on a national stage to pool resources, passion, and energy. We collaborate with academic institutions, policymakers, and corporate and industry partners to develop and deliver a pipeline of innovative therapies to people living with T1D. Our staff and volunteers throughout the United States and our six international affiliates are dedicated to advocacy, community engagement and our vision of a world without T1D. For more information, please visit jdrf.org or follow us on Twitter: @JDRF.
OrionEquity Partners LLC is a private investment firm based in Boston, Mass.
AnTolRx, Inc. is located in Cambridge, Mass. www.antolrx.com
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SOURCE AnTolRx, Inc.
