Armethion, Inc. ( Armetheon: Com), a biopharmaceutical company focused on developing novel mid-to late-stage cardiovascular drug candidates, announced today that it has raised $7. 0 million in its first round of funding The Series A round was co-led by AshHill Biomedical Investments and Hercules Bioventures, with the participation of investors including Atheneos Capital and a prominent biotech entrepreneur and pharmaceutical executive, Dr. Larry Hsu, Impax Laboratories’ founder
The company reached an agreement with the U earlier this year Oh, S Food and Drug Administration (FDA) on a Special Protocol Assessment (SPA) for the final pivotal trial, TACT (Tecarfarin for AntiCoagulation Trial) for Tecarfarin, which is being investigated for all patients requiring an oral anticoagulant (OAC) including patients with mechanical heart valves (MHV) Recent clinical guidelines from AHA/ACC recommend the use of a vitamin K antagonist (VKA) for anticoagulation in patients with MHV The guidelines also recommend MHV over bioprosthetic heart valves for patients under 60 years of age. The results of already completed clinical trials and TACT will form the basis for regulatory submission for Tecarfarin.
‘The quality of our science and team is reflected by the stellar union of institutional and angel investors in this oversubscribed Series A round,’ said M. (Ken) Kengatharan, PhD, Co-Founder, President & Co.
‘The funds will be used to keep our NDA filing timeline for Tecarfarin in 2017,’ said Peter Milner MD, FACC Co-Founder and Chairman of Armetheon. ‘Tecarfarin, if approved, could become an important alternative to VKA that is not metabolized by CYP enzymes or treated with P-glycoprotein. Studies have shown that existing OACs, including warfarin, interact with CYP-metabolising enzymes or P-glycoprotein ‘Milner has previously co-founded both CV Therapeutics and ARYx Therapeutics and currently serves as CEO of Heart Metabolics Ltd (Ireland)
Besides the Drs Kengatharan and Milner, members of the Armetheon Board include Pascal Druzgala, PhD, co-founder and industry veterans, Jon Saxe and Steven P. James, former CEO of Labrys Biologics, Inc. (Recently acquired by Teva) and by KAI Pharmaceuticals, Inc. (Acquired by Mr. Amgen)
Tecarfarin is being investigated for use as an oral, once-daily anticoagulant inhibitor of Vitamin K epoxide reductase (VKOR, an important enzyme in the coagulation system) that avoids CYP450-dependent metabolism and renal elimination. In Phase 2 and Phase 2/3 (EMBRACE-AC) clinical studies, this drug candidate improved therapeutic time (TTR) in chronically anticoagulated patients. The effects of Tecarfarin on TTR will be further investigated in the TACT clinical trial. TTR was chosen as the endpoint for these trials on the basis of evidence that better control of anticoagulation (as measured by higher TTR) can protect patients from serious or even fatal adverse events. Tecarfarin is monitored by INR and is being investigated for use without the need for CYP2C9 genotyping because Tecarfarin is not metabolized by CYP-450. In pre-clinical and early clinical studies, the anticoagulant effect of Tecarfarin was reversed by existing and readily available VKA antidotes.
On the Armetheon
Armethion, Inc. A privately held biopharmaceutical company based in San Francisco Bay with late-stage clinical drug candidates for cardiovascular disease development The company was founded in 2011 by experienced, successful biotech entrepreneurs and drug developers with funding from AshHill Biomedical Investments (http://www). Ashhill’s Net) and Atheneos Capital (http://www) The capital of Atheneos (com) Armetheon’s two late-stage small molecule drug candidates are for use in oral anticoagulation and atrial fibrillation. Locust Walk Partners serves as the company’s key strategic advisor. For more information, see Armetheon: Com