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August 23, 2005 08:30 AM US Eastern Timezone
Alba Therapeutics Corporation Closes on US$30M Series A Financing
BIOWIRE2K
BALTIMORE--(BUSINESS WIRE)--Aug. 23, 2005--Alba Therapeutics Corporation,
an early stage biopharmaceutical company focused on zonulin pathway
modulation, today announced the closing of its US$30M Series A financing.
SV Life Sciences led the investment round together with Alta Partners and
are joined by HealthCap, Red Abbey Venture Partners and the Maryland
Venture Fund. Additional participants in the round include existing
investors Esperance BioVentures, Astellas Ventures, Maryland TEDCO, and
Townsend Capital. "This financing brings together an international group
of investors committed to advancing the Company's lead product candidate,
AT-1001, through proof-of-concept in humans," said Lutz Giebel, PhD,
Venture Partner of SV Life Sciences. "The Company has made outstanding
progress in the last twelve months and has met or exceeded all of its
development milestones."
"This financing supports the vast potential of the zonulin pathway, both
for the delivery of drugs and vaccines, and for the treatment of disease
states characterized by inappropriate permeability. The latter includes a
significant number of acute and chronic inflammatory and immune
conditions, such as Celiac Disease and Type 1 Diabetes," said Blake M.
Paterson, MD, Alba co-founder and CEO. "We are honored to have an
outstanding group of investors who share our vision and are providing the
funding to enable us to move AT-1001 into human trials for Celiac Disease
and other autoimmune conditions."
"Alba's platform is based on more than 10 years of research and an
extensive intellectual property foundation licensed from the University of
Maryland School of Medicine, and we are now well positioned to advance
drug candidates into the clinic," said Alessio Fasano, MD, co-founder and
interim Chief Scientific Officer at Alba. "We will continue to prepare our
robust pipeline for future development and partnerships," added Dr.
Fasano, a Professor of Pediatrics, Medicine and Physiology at the
University of Maryland School of Medicine and Director of its Mucosal
Biology Research Center.
The Alba Board of Directors consists of: Lutz Giebel, PhD, Venture Partner
at SV Life Sciences; Dan Janney, Managing Director at Alta Partners;
Magnus Persson, MD, PhD, Partner at HealthCap Venture Capital; Roger
Newton, PhD, former President, CEO and co-founder of Esperion
Therapeutics, and Blake Paterson, MD, co-founder, President and CEO of
Alba.
About Alba
Alba Therapeutics ("Alba") is a Baltimore-based biopharmaceutical company
based at the Emerging Technology Center in Canton. Alba is dedicated to
commercializing disease-modifying therapeutics and drug delivery adjuvants
based on the zonulin pathway. Alba's lead molecule, AT-1001, is targeted
towards the treatment of Celiac Disease and Type 1 Diabetes and is in the
final stages of pre-human testing.
About SV Life Sciences
SV Life Sciences(TM) ("SVLS") is a life sciences-focused venture capital
adviser and manager. SVLS advised or managed funds invest in companies at
all stages of development requiring funding within the human life sciences
sector including biotechnology and pharmaceuticals, medical devices and
instruments, healthcare IT and services.
About Alta Partners
Alta Partners is a venture capital firm which funds life sciences and
information technology companies. The firm invests in companies across the
continuum from early-stage company formation to later-stage opportunities,
through separate stage-specific funds.
About HealthCap
HealthCap is a family of multi stage venture capital funds, investing
internationally in life sciences, with the Odlander Fredrikson Group as
their exclusive investments advisor. HealthCap is the largest specialized
provider of venture capital within life sciences in the Nordic countries
and one of the largest independent private investors in the sector in
Europe.
About Red Abbey
Red Abbey Venture Partners ("Red Abbey") focuses on investing in high-
quality life sciences companies that are developing novel therapeutics and
other products based on distinctive technologies. Red Abbey invests in
companies at all stages of development.
About Maryland Department of Business and Economic Development ("DBED")
Venture Fund
The Maryland DBED Venture Capital Fund was established in 1994 and
provides direct equity investments in emerging high technology Maryland
companies with patented or proprietary products or manufacturing processes
and a marketing strategy in place. The Fund works with established and
early stage Maryland companies to move them into their next stage of
development as a viable business.
Contacts
Alba Therapeutics Corporation, Baltimore
Deena Callahan, 410-522-8708
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