Mountain View, CA and TOKYO – Feb 1, 2008 – REGiMMUNE Corporation., a privately held biopharmaceutical company, announced today that it has raised a total of $6 million U.S. in a Series B venture capital financing from new and existing investors. The original lead investor NIF SMBC Ventures Co., Ltd. led the round, with the participation of new investors CSK Venture Capital Co., Ltd.; GH Holdings K.K..; Resona Capital Co.,Ltd.; AC Ventures Co., Ltd. and Friendly Partners Co., Ltd. Also participating in this financing are existing investors Japan Asia Investment Co., Ltd.; Yasuda Enterprise Development Co., Ltd.; New Business Investment Co., Ltd.; and Fund Creation Co., Ltd. REGiMMUNE plans to keep this round open for several months for additional venture firms interested in becoming part of the syndicate.
Proceeds from the financing will be used to complete the IND filing for RGI-2001 and to expand the company’s proprietary technology platform, reVax (reverse vaccination).
“We are very pleased to have the continuing support of our initial investors and to welcome our new investors,” stated Haru Morita, President and Chief Executive Officer. “We are happy to receive this current commitment from investors, in spite of the poor market conditions all over the world. We believe this is proof of investor confidence in our technology, our progress of development and the credibility of the management team.”
REGiMMUNE is a biotechnology company focused on the discovery, development and commercialization of immune regulatory therapeutics to treat life-threatening and debilitating conditions, including allergies, autoimmune diseases and inflammatory disorders. The company’s proprietary technology platform, reVax (reverse vaccination), works by modulating the immune system by enhancing antigen specific immune regulatory cells. This technique is expected to be useful in conditions such as Ragweed Allergy, Rheumatoid Arthritis (RA) and Multiple Sclerosis (MS), where control of an abnormal immune response is desirable. reVax is being utilized to advance several compounds through clinical development and eventual commercialization of a broad range of products for REGiMMUNE and its partners. The company is headquartered in Tokyo, Japan and has a U.S. subsidiary in Mountain View, California.
US MEDIA CONTACT FOR REGiMMUNE: