Thrasos Scores $21M to Complete Phase II THR-184, Expands Renal Portfolio

March 31, 2015
By Alex Keown, BioSpace.com Breaking News Staff

MONTREAL -- GlaxoSmithKline ’s venture capital arm SR One and other funding partners have raised $21 million in Series D financing to back development of a new kidney drug developed by Montreal-based Thrasos Therapeutics, company announced Tuesday morning.

The funds will support a 450-patient study of Thrasos’ lead compound THR-184, which the company is banking will help prevent Acute Kidney Injury (AKI) in patients undergoing major cardiac surgery. Surgery related AKI is linked with longer recovery time, negative outcomes, increased hospital stays and often increased mortality, leading to higher costs and negative health outcomes. Acute Kidney Injury impacts about 1.3 million people annually.

In a press release announcing the funding, Richard Andrews, chief executive officer of Thrasos Therapeutics said AKI and Chronic Kidney Disease represent two of the world’s most significant unmet needs. Currently there are no existing preventative therapies that can reduce the impact on patients, hospitals and payers for people affected by surgery-caused AKI each year.

Three years ago Glaxo’s SR One helped secure $35 million in funding for THR-184 research.

THR-184 is a peptide that acts on the BMP/Smad pathway and is currently being evaluated for Phase II trials. In earlier Phase I trials, THR-184 was shown to significantly decrease the severity of AKI when administered in an animal model of acute renal ischemia. THR-184 was administered prior to the injury, following the injury, and both prior to and following the injury. The highest level of efficacy was seen when THR-184 was administered both prior to and following the injury. In two Phase I clinical trials THR-184 was found to be safe and well-tolerated. THR-184 has been granted Fast Track designation for this indication by the U.S. Food and Drug Administration (FDA).

In addition to expanding its research with THR-184, Thrasos expects the $21 million in funding will allow the company to expand its pipeline offerings for chronic kidney disease.

Thrasos also has another kidney drug THR-575 in development for diabetic nephropathy, which is damage caused to the kidneys from diabetes, which can trigger chronic kidney disease. Diabetes is the most common cause of end-stage renal disease (ESRD) among Americans and Europeans.

In addition to Glaxo’s SR One, additional financing partners include BDC Capital’s Healthcare Venture Fund, a division of the Business Development Bank of Canada, which invests in Canadian healthcare companies. Thrasos’ Board of Directors will be expanded with the addition of Ela Borenstein, Managing Partner at BDC Capital Healthcare Venture Fund.