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CalciMedica Achieves Milestone and Draws Down Second Tranche of $12 Million Series C Financing


12/15/2009 8:50:48 AM

LA JOLLA, Calif., Dec. 15 /PRNewswire/ -- CalciMedica, a biotechnology company focused on developing novel small molecule inhibitors of CRAC channels for the treatment of autoimmune and inflammatory diseases, announced the closing of the second tranche of its Series C financing.

"CalciMedica's investors are pleased to recognize the Company's accomplishments in validating the potential of CRAC channels as a therapeutic target and effectively modulating their activity with small molecules in vitro and in vivo," said Peter McWilliams, Ph.D., a Principal with Sanderling Ventures and Chairman of CalciMedica's Board of Directors. "We believe that this therapeutic approach holds significant promise to yield a novel class of oral therapeutics to treat a wide spectrum of diseases."

About CalciMedica, Inc.

CalciMedica is dedicated to the discovery and development of novel small molecule drugs for the treatment of autoimmune and inflammatory diseases. A significant focus of the company's drug discovery strategy is based on the specific inhibition of calcium release-activated calcium (CRAC) channels, a key component of the Icrac pathway in immune cells. The Icrac calcium entry pathway is essential for the adaptive immune response, and has been genetically validated as an important drug target in humans. CalciMedica has acquired exclusive rights to STIM1 and Orai1 which function together as gatekeepers of the Icrac pathway and were cited in Science among signaling breakthroughs of 2005 and 2006, respectively. CalciMedica is headquartered in La Jolla, California.

CONTACT: Gonul Velicelebi, President & CEO of CalciMedica, Inc.,
+1-858-952-5501, gonul@calcimedica.com

Web site: http://www.calcimedica.com/


Read at BioSpace.com


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