On February 14, 2014 REGiMMUNE Corporation reported the closing of a Series D financing earlier this month (Press release, REGimmune, FEB 14, 2014, View Source [SID1234642236]). The company raised $9.2 million US in this new round, which was led by Japan Asia Investment Corporation (JAIC) and Nippon Venture Capital Corp (NVCC). Additional investors participating in this round are new investors Mizuho Capital, Nissei Insurance, KSP, Inc., the core business entity that operates the Kanagawa Science Park, and Mitsui Sumitomo Insurance Venture Capital Co.,Ltd.. Existing investors SMBC Venture Capital Co., Ltd., the VC arm of Sumitomo Mitsui Banking Corporation, and Mitsubishi UFJ Bank Capital also invested in this financing. Proceeds from this funding will be used primarily to support the company’s early stage product development.
REGiMMUNE successfully completed a Phase I study of RGI-2001 for Graft versus Host Disease (GvHD) and recently announced it has initiated a Phase II clinical trial for RGI-2001. Data from the Phase I study showed no safety concerns up to the highest dose and some preliminary signs of efficacy were observed.
Haru Morita, President and Chief Executive Officer, said "We now have positive human clinical data that validates the usefulness of our immune-regulating technology platform. The financing announced today will allow us to fund new programs based on our proprietary technology including therapeutics for type 1 diabetes, celiac disease, and inhibitor formation in enzyme replacement therapies (ERT) such as hemophilia and lysosomal diseases."
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