{"id":8862,"date":"2012-04-02T11:47:43","date_gmt":"2012-04-02T15:47:43","guid":{"rendered":"http:\/\/sciencebusiness.technewslit.com\/?p=8862"},"modified":"2012-04-02T11:47:43","modified_gmt":"2012-04-02T15:47:43","slug":"biotech-secures-25-million-in-series-b-financing","status":"publish","type":"post","link":"https:\/\/technewslit.com\/sciencebusiness\/?p=8862","title":{"rendered":"Biotech Secures $25 Million in Series B Financing"},"content":{"rendered":"<figure id=\"attachment_7971\" aria-describedby=\"caption-attachment-7971\" style=\"width: 197px\" class=\"wp-caption alignleft\"><a href=\"http:\/\/technewslit.com\/sciencebusiness\/wp-content\/uploads\/2012\/01\/KidneyCrossSection_NLMNIH.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-7971\" title=\"KidneyCrossSection_NLMNIH\" src=\"http:\/\/technewslit.com\/sciencebusiness\/wp-content\/uploads\/2012\/01\/KidneyCrossSection_NLMNIH.jpg\" alt=\"Cross-section of kidney (National Library of Medicine)\" width=\"197\" height=\"300\" srcset=\"https:\/\/technewslit.com\/sciencebusiness\/wp-content\/uploads\/2012\/01\/KidneyCrossSection_NLMNIH.jpg 197w, https:\/\/technewslit.com\/sciencebusiness\/wp-content\/uploads\/2012\/01\/KidneyCrossSection_NLMNIH-98x150.jpg 98w\" sizes=\"auto, (max-width: 197px) 100vw, 197px\" \/><\/a><figcaption id=\"caption-attachment-7971\" class=\"wp-caption-text\">Cross-section of kidney (National Library of Medicine)<\/figcaption><\/figure>\n<p>AlloCure Inc., a privately-held biotechnology company in Burlington, Massachusetts, says it has closed <a href=\"http:\/\/www.allocure.com\/news\/12_0402_allocurepr.php\">a $25 million deal<\/a> for series B venture financing. The series B round &#8212; the second financing installment after initial start-up &#8212; includes new syndicate member Lundbeckfond Ventures, as well as previous investors SV Life Sciences and Novo A\/S.<\/p>\n<p>The company is developing AC607, a stem cell therapy for acute kidney injury. AC607 uses bone marrow-derived mesenchymal stem cells from healthy adult donors and then expanded with AlloCure&#8217;s manufacturing process. AC607, says the company, goes to the site of injury where it encourages anti-inflammatory and organ repair processes through the secretion of beneficial hormones, without differentiation and repopulation of the injured kidney.<\/p>\n<p>Robert Brenner, AlloCure&#8217;s president and CEO, says the financing is expected to support an upcoming phase 2 clinical study of AC607. The study will be a multi-center, randomized, double-blind, placebo-controlled trial of AC607 for the treatment of acute kidney injury beginning this summer at academic institutions and hospitals in the U.S.<\/p>\n<p>The company has already completed a <a href=\"http:\/\/clinicaltrials.gov\/ct2\/show\/NCT00733876\">phase 1 trial<\/a> to determine the safety of AC607. The study found the safety profile consistent with expectations for this type of therapy and with no serious adverse events reported. While the study&#8217;s main focus was on safety, the company says the patients treated with AC607 also experienced a decreased incidence of post-operative acute kidney injury, decreased hospital readmission rates, and a significant decrease in length of hospital stay, when compared to historical controls.<\/p>\n<p>In January, AlloCure received Fast Track designation from the FDA for AC607. FDA grants <a href=\"http:\/\/www.fda.gov\/forconsumers\/byaudience\/forpatientadvocates\/speedingaccesstoimportantnewtherapies\/ucm128291.htm\">Fast Track designation<\/a> to new therapies that treat serious diseases and address unmet medical needs.<\/p>\n<p>Read more: <a href=\"http:\/\/sciencebusiness.technewslit.com\/?p=6974\">Biotech Start-Up Lands $15M Series A Round<\/a><\/p>\n<p style=\"text-align: center;\">*\u00a0\u00a0\u00a0\u00a0 *\u00a0\u00a0\u00a0\u00a0 *<\/p>\n","protected":false},"excerpt":{"rendered":"<p>AlloCure Inc., a privately-held biotechnology company in Burlington, Massachusetts, says it has closed a $25 million deal for series B venture financing. The series B round &#8212; the second financing installment after initial start-up &#8212; includes new syndicate member Lundbeckfond Ventures, as well as previous investors SV Life Sciences and Novo A\/S. The company is [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[31,21,28,23,22,24,64,27,48,19],"class_list":["post-8862","post","type-post","status-publish","format-standard","hentry","category-finance","tag-biomedical","tag-biotech","tag-clinical-trials","tag-equity","tag-fda","tag-investment","tag-life-sciences","tag-pharmaceuticals","tag-stem-cells","tag-venture-capital"],"_links":{"self":[{"href":"https:\/\/technewslit.com\/sciencebusiness\/index.php?rest_route=\/wp\/v2\/posts\/8862","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/technewslit.com\/sciencebusiness\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/technewslit.com\/sciencebusiness\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/technewslit.com\/sciencebusiness\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/technewslit.com\/sciencebusiness\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8862"}],"version-history":[{"count":4,"href":"https:\/\/technewslit.com\/sciencebusiness\/index.php?rest_route=\/wp\/v2\/posts\/8862\/revisions"}],"predecessor-version":[{"id":8866,"href":"https:\/\/technewslit.com\/sciencebusiness\/index.php?rest_route=\/wp\/v2\/posts\/8862\/revisions\/8866"}],"wp:attachment":[{"href":"https:\/\/technewslit.com\/sciencebusiness\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8862"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/technewslit.com\/sciencebusiness\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8862"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/technewslit.com\/sciencebusiness\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8862"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}