Inc., ArmaGen Technologies Today announced the closing of the $17 million Series A funding to support the development of brain-penetrating recombinant protein therapy. Boehringer Ingelheim Venture Fund, joined by Shire plc, Takeda Ventures, Inc. Mitsui & Co. Global Investments, Inc This funding will enable the expansion of existing operations and the clinical development of potentially first-in-class biopharmaceuticals targeting central nervous system (CNS) diseases designed to penetrate the blood-brain barrier (BBB)
“The ArmaGen Investor Union is a unique group of Big Pharmas, each with its own global impact. This is the first time that such a diverse group from the pharmaceutical industry has come together to finance technology in the blood-brain barrier I am very pleased with the trust our investors have placed in us,” said William M. Pardridge, MD, Founder, Chief Scientific Officer of ArmaGen
ArmaGen molecular trojan horse technology has the potential to re-engineer BBB penetration recombinant proteins for the treatment of brain and spinal cord diseases. The long-term mission at ArmaGen is to develop BBB-penetrating biopharmaceuticals for CNS diseases that affect more than 250 million people worldwide. Initially, the company will focus on CNS orphan diseases with lead biopharmaceuticals for Mucopolysaccharidosis (MPS) Type I or Hurler Syndrome and MPS Type II or Hunter’s disease
Dr. Joining The Board of Directors of ArmaGen is composed of Stuart Swiedler, MD, PhD, Martin Heidecker PhD (Boehringer Ingelheim Venture Fund) and Arthur Tzianabos, PhD (Shire)
“I believe that ArmaGen has the ideal technology to help develop brain-penetrating recombinant proteins for the treatment of a wide range of rare diseases that affect the brain but also the periphery. If this works, physicians will have the potential to treat their patients with only one drug. This would really be a breakthrough for their patients,” Stu Swiedler said.
“I’m very excited to be working with such an experienced team on orphan diseases, but what makes me really excited about technology is the potential for widespread use in neurodegenerative and other brain-affected indications,” said Dr. Martin Heidecker of Boehringer Ingelheim Venture Fund, a leading investor
Dr. Dr. Pardridge formed ArmaGen in 2004 and, to date, has financed the company with $20 million in non-dilution financing. The company is located in Santa Monica, California.
About ArmaGen® Technologies
ArmaGen Technologies is both a platform technology company and a product company. Platform technology produces IgG fusion proteins formed by the fusion of a recombinant therapeutic protein that does not cross BBB to IgG. The IgG domain of the fusion protein is a genetically engineered monoclonal antibody that crosses human BBB via transport to endogenous BBB receptors. The IgG Domain acts as a molecular Trojan horse to transport the fused pharmaceutical agent from blood across the BBB. ArmaGen has used platform technology to develop a diverse pipeline of BBB penetrating recombinant proteins, including lysosomal enzymes, neurotrophins, decoy receptors, or therapeutic antibodies.
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Boehringer Ingelheim Venture Fund
The Boehringer Ingelheim Venture Fund was set up in March 2010 to invest in biotechnology and start-up companies to help drive innovation in medical science. These may include, but are not limited to, novel technologies to address previously undrugged targets, new generation vaccines and new biological entities, such as antibody-dependent oncolysis. A further focus is on novel therapeutic targets and disease-related biomarkers, as well as new approaches to regenerative medicine.
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Takeda Ventures, Inc.
Taked Ventures, Inc. (TVI) is the corporate arm of Takeda Pharmaceutical Company Limited. A wholly-owned subsidiary of Takeda America Holdings, Inc. , TVI started operations in November 2001 with the aim of encouraging and encouraging therapeutic innovation through early capital investment and providing access to the resources of a multinational pharmaceutical company.
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About Mitsui and Co Global Investments, Inc
Mitsui and Co. Global Investments, Inc (MGI USA), with offices in Silicon Valley and New York, is a subsidiary of Mitsui & Co. Global Investment Ltd (MGI), which invests in growth potential opportunities Headquartered in Tokyo, MGI has offices in Shanghai, Beijing and Mumbai, in addition to the offices of MGI USA, and its investments extend beyond these geographical barriers, reflecting a diversified global portfolio.
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