LOUISVILLE, Colo., Jan. 10 /PRNewswire/ -- GlobeImmune, Inc. today announced the final closing of a Series B Preferred Stock financing. GlobeImmune added an additional $4.1 million to the previously-announced first close of $34.3 million, bringing the total amount raised in the Series B financing to $38.4 million.
New investors joining the Series B round include PAC-LINK Bio Venture Capital, China Investment and Development (CIDC), and Yasuda Enterprise Development. The Series B financing was led by Lilly Ventures and also included HealthCare Ventures, Morgenthaler Ventures, Sequel Venture Partners, Medica Venture Partners, Adams Street Partners, Biogen Idec, Inc., Genentech, Inc., Partners Healthcare, and GC&H Investments. GlobeImmune has raised $51 million to date.
“We are very pleased to have added three important final investors to the Series B,” said Dr. Timothy Rodell, CEO of GlobeImmune. “The consummation of this round of financing enables GlobeImmune to fund studies designed to demonstrate clinical proof of principle of our Tarmogen(TM) products.”
The Company plans to use the Series B funds to complete a placebo-controlled Phase 2 clinical trial of GI-4000 in patients with pancreatic cancer as well as complete a placebo-controlled Phase 1b clinical trial of GI-5005 in patients with chronic hepatitis C infection.
This release is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any of the securities, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale, would be unlawful prior to registration or qualification of the securities under the securities laws of any such state.
About GlobeImmune, Inc.
GlobeImmune, Inc. is a biopharmaceutical company pioneering the discovery, development and manufacturing of potent, targeted molecular immunotherapy products called Tarmogens(TM) for the treatment of cancer and infectious diseases. The Company’s lead product series, GI-4000 for the treatment of cancers of the lung and gastrointestinal tract, is currently in Phase 1 clinical trials. The Company initiated a Phase 1b trial for its second product, GI-5005, a Tarmogen for the treatment of chronic hepatitis C infection in July 2005.
Tarmogens are whole, heat-killed recombinant Saccharomyces cerevisiae yeast genetically modified to express one or more protein antigens that stimulate the immune system against diseased cells. Tarmogens are avidly taken up by the cells that activate the immune system called antigen presenting cells, to stimulate a so-called “killer T cell” response against the desired target(s). GlobeImmune’s patented Tarmogen platform has a number of advantages over current approaches including that Tarmogens generate potent T cell immune responses, are not neutralized by the immune system, can be rapidly engineered, and are simple to manufacture.
For additional information, please visit the company’s website at www.globeimmune.com.
This press release contains forward-looking statements that involve risks and uncertainties, including statements relating to initiation and progress of the Company’s clinical trial programs. Actual results could differ materially from those projected and the Company cautions investors not to place undue reliance on the forward-looking statements contained in this release.
GlobeImmune, Inc.
CONTACT: Timothy C. Rodell, M.D., Chief Executive Officer of GlobeImmune,Inc., +1-303-625-2700, or fax, +1-303-625-2710, information@globeimmune.com
Web site: http://www.globeimmune.com/
