Blade Therapeutics, a private biopharmaceutical company developing novel anti-fibrotic therapies to meet important patient needs, today announced that it has nominated a clinical development candidate for its lead program focused on small molecule inhibitors that selectively target certain intracellular cysteine proteases.
The selection of the clinical development candidate triggered the funding of the remaining $45 million U tranche. Oh, S Financing of Series B, closed in June 2016 Series B included investment by Deerfield Management, MPM Capital, Pfizer Venture Investments, Novartis Institutes for Biomedical Research, Bristol-Myers Squibb and Osage University Partners The proceeds of this second tranche are intended to advance the developmental candidate to the clinic as a novel treatment for fibrotic diseases, as well as to continue developing the pipeline.
“I am very proud of the team for their progress in developing a best-in-class clinical candidate,” said Wendy Robbins, MD, Chief Executive Officer of Blade. “In addition to additional funding, Blade is on track with the IND-enabling studies and is well positioned to enter the clinic in mid-2018. “That’s right.
In addition to the clinical candidate, Blade is also looking to leverage its world-class fibrosis expertise to build a pipeline of novel anti-fibrotic agents. “We continue to look at ways to expand the benefits of our team’s unique chemistry platform, as well as in-licensing opportunities that represent novel approaches to the treatment of fibrotic diseases,” said Felix Karim PhD, Blade’s Executive Vice President, Business Development.
About Blade Therapeutic
Blade Therapeutics is a private biopharmaceutical company developing novel anti-fibrotic therapies to meet important patient needs. Blade has put together a critical mass of expertise in fibrosis and a top-level leadership team and a world-class network of consultants with unparalleled experience in R&D on anti-fibrotic drugs. Blade’s lead program is a small molecule inhibitor targeting intracellular cysteine protease that has been shown to be associated with fibrosis across a variety of indications. The Company expects to enter the clinic with its lead development candidate in mid-2018. Blade draws on insights from the Johns Hopkins University School of Medicine (Hal Dietz Laboratory, M) for its foundational programs. D. D. ) to discover new therapeutic approaches that can broadly modulate fibrosis and thus contribute to the treatment of various diseases; The leading investors in Blade include MPM Capital, Deerfield, Osage Partners, as well as Pfizer, Bristol-Myers Squibb and Novartis Venture Funds. Please go to http://www Blamed, Com/for further information
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