Topas Therapeutics Extends Series B, Raising Total of €40 Million (~$ 48 Million) in this Round
- Funds to be used to obtain clinical proof of concept in two programs and to accelerate innovative pipeline focused on restoring immune tolerance to treat and potentially cure autoimmune diseases
- Initial clinical data for lead program, TPM203, in pemphigus vulgaris expected this year; second program, TPM502, planned to enter clinic by year end for celiac disease
- In strong support of Topas' technology and programs, all existing investors - BioMedPartners, Boehringer Ingelheim Venture Fund, EMBL Ventures, Epidarex Capital, Evotec, Gimv and Vesalius Biocapital III - participated in the extension
HAMBURG, GERMANY / ACCESSWIRE / July 29, 2021 / Topas Therapeutics GmbH (Topas), a private biotechnology company developing immune tolerance-inducing drugs to treat and potentially cure a variety of autoimmune diseases, today announced that the Company has successfully extended its Series B round with an additional €18 million (~$22 million) raised, bringing the total for this financing to €40 million. All of Topas' existing investors participated in the extension.
The funding will be used to obtain clinical proof of concept in two programs and to accelerate the Company's proprietary pipeline based on the Topas Particle Conjugates technology platform. In addition to lead program, TPM203, which is continuing in clinical development for the treatment of pemphigus vulgaris, a second product candidate, TPM502, is now slated to enter the clinic for the treatment of celiac disease by the end of this year.
Topas will also be advancing several of its pre-clinical-stage programs, including one for the treatment of rheumatoid arthritis and one for Type I diabetes. Topas' novel technology induces antigen-specific immune tolerance by harnessing the liver's natural tolerization capabilities. The Company is utilizing this platform to develop products for autoimmune diseases where better treatment options and cures are urgently needed.
Klaus Martin, Ph.D., Chief Executive Officer of Topas, said: " We are excited by the trust our investors are showing by participating in this extended financing round, recognizing our progress and underpinning their great belief in the potential of Topas' innovative technology and programs. This strong support is enabling us to accelerate our product development work and to advance several programs in parallel. We look forward to seeing the first clinical results from our platform, expected later this year."
Topas has raised a total of €58 million since its inception. The recent Series B extension is enabling the Company to accelerate the development of various autoimmune disease programs.
Erich F. Greiner, M.D. , Chairman of the Supervisory Board, said: "I am very pleased and grateful that all of Topas' investors decided to further strengthen the Company and its programs. We are delighted by the progress we have made to date with the Topas nanoparticle conjugate technology platform and eagerly await the first clinical results. Once clinical proof of concept is established, we see multiple opportunities for this unique and versatile platform to rapidly generate additional exciting programs in a variety of disease areas. The Topas technology has the potential to bring truly breakthrough products to patients with diseases of high unmet medical need for which there are currently no effective or curative treatment options."
About Topas Therapeutics
Topas Therapeutics GmbH is a clinical-stage, private biotechnology company, which focuses on developing nanoparticle-based therapeutics to address areas of major unmet need, including autoimmune diseases, allergies, and anti-drug immune responses. The Topas Particle Conjugates technology platform induces antigen-specific immune tolerance by harnessing the liver's natural tolerization capabilities. The Company has several proprietary programs; lead product candidate, TPM203, is in clinical testing for pemphigus vulgaris, an orphan disease. A second program, TPM 502, is being developed for the treatment of celiac disease and expected to enter the clinic by the end of the year. Topas has several other proprietary programs, including in rheumatoid arthritis and Type I diabetes, in pre-clinical development. Other programs are in the area of anti-drug immune responses, such as in gene therapy and with anti-drug antibodies and are available for partnering. Topas' investors are: BioMedPartners, Boehringer Ingelheim Venture Fund, EMBL Ventures, Epidarex Capital, Evotec, Gimv and Vesalius Biocapital III.
For additional information, please visit www.topas-therapeutics.com .
Topas Therapeutics GmbH
Media Relations Europe
Dr. Klaus Martin
MC Services AG
CEO / Managing Director
Tel: +49 211 529 252 22
SOURCE: Topas Therapeutics GmbH
View source version on accesswire.com: