HENNIGSDORF and BERLIN, GERMANY / ACCESSWIRE / December 5, 2019 / 4TEEN4 Pharmaceuticals GmbH (formerly Sphingotec Therapeutics GmbH) announced today the closing of a EUR 6.9 million Series A financing round. The new funds will be used to advance the preclinical development and initiate first-in-man studies of 4TEEN4's lead antibody candidate Procizumab. The antibody offers a new approach to the treatment of life-threatening diseases related to acute circulatory failure. Preclinical safety and toxicity studies of the antibody as well as the initiation of the first-in-man studies are planned for 2020. The successful financing round was led by the Brandenburg Kapital GmbH, a subsidiary of the ILB Investitionsbank des Landes Brandenburg. The series A funding was co-financed by a group of private investors and business angels.
Procizumab is a first-in-class monoclonal antibody blocking free plasma dipeptidyl-peptidase 3 (cDPP3, circulating DPP3). In patients with cardiogenic shock, elevated concentrations of cDPP3 have been associated with organ failure and mortality. Preclinically, it was shown that cDPP3 degrades important hormones, which are central to heart and kidney function. Low concentrations of these key hormones lead to life-threatening circulatory instability. By blocking DPP3, Procizumab offers an alternative approach that could reduce mortality in patients with acute cardiovascular failure placed under critical care. 4TEEN4 is now going to demonstrate Procizumab efficacy in clinically relevant models for cardiogenic shock.
'The medical impact of Procizumab will likely go far beyond the initial application in cardiogenic shock,' said Dr. Andreas Bergmann, founder and CEO of 4TEEN4. 'We have data from 20,000 patients in indications such as severe sepsis, burns and traumatic injuries waiting for publication, which demonstrate that high DPP3 levels are at the core of a new mechanism underlying organ failure.'
'We strongly believe that Procizumab could be a unique approach to prevent organ failure in patients with cardiogenic shock,' added Claudia Dubro, Investment Manager of the Brandenburg Kapital GmbH. 'As Procizumab may also be effective in other life-threatening indications with organ failure, we are convinced that future research programs will also have the potential for new business cases.'
4TEEN4 Pharmaceuticals GmbH is a biopharmaceutical company developing Procizumab, a humanized antibody targeting human Dipeptidyl Peptidase 3 (DPP3) for the treatment of acute cardiovascular diseases. The company was established in 2013 in Hennigsdorf near Berlin, Germany, by Dr. Andreas Bergmann, CEO of 4TEEN4.
About Brandenburg Kapital GmbH/ Investitionsbank des Landes Brandenburg
The Investitionsbank des Landes Brandenburg (ILB) manages various investment funds that finance growth- and innovation-oriented companies based and/or operating in Brandenburg. The funds for the early-stage and growth fund of Brandenburg Kapital, which was set up on behalf of the Brandenburg Ministry of Economics, are currently provided from funds of the European Regional Development Fund and from the ILB's own funds. To date, ILB's investment activities have helped 215 companies grow by around EUR 235 million. Around 8,400 modern jobs have been created or secured. The funds managed by ILB cover the entire spectrum from venture capital financing in the start-up phase and early growth phase to mezzanine financing for established medium-sized companies. In addition, private investors have so far invested more than 450 million euros in the companies. Further information: www.brandenburg-kapital.de
SOURCE: 4TEEN4 Pharmaceuticals GmbH
View source version on accesswire.com: