On October 12, 2020 Priothera Limited, a clinical stage company developing orally applied sphingosine 1 phosphate (S1P) receptor modulators for haematological malignancies, reported that it has successfully closed a Series A financing round of €30 million led by Fountain Healthcare Partners with participation from co-lead investor HealthCap and funds managed by Tekla Capital Management, LLC as well as EarlyBird Venture Capital (Press release, Priothera, OCT 12, 2020, View Source [SID1234568330]).
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Priothera will use the funds to progress the clinical development of mocravimod, a modulator of sphingosine 1 phosphate (S1P) receptors, to enhance the curative potential of allogenic hematopoietic stem cell transplantation (HSCT) for treating AML. Priothera expects to generate further randomized clinical data in high risk AML patients with this Series A funding round.
Mocravimod has already been extensively tested in multiple immunologic indications and has shown survival benefit in an early clinical study evaluating acute myeloid leukemia (AML) and acute lymphocytic leukemia (ALL) patients undergoing hematopoietic stem cell transplantation (HSCT). Priothera acquired mocravimod from KYORIN Pharmaceutical Co., Ltd.
Following the closing of the financing, Florent Gros (Priothera’s Co-Founder and CEO), Dr. Dhaval Patel (Priothera’s Co-Founder and CSO at UCB), Dr. Manus Rogan (Fountain Healthcare Partners Co-Founder and Managing Director), Dr. Mårten Steen (Partner at HealthCap), Dr. Henry Skinner (Senior Vice President at Tekla Capital Management, LLC) and Lionel Carnot (Partner at EarlyBird Venture Capital), have joined the Board of Directors.