Adrenomed closes EUR 22 million equity financing to accelerate development of Adrecizumab
Management Changes
Adrenomed AG, the vascular integrity company, announced the successful closing of a EUR 22.2 million financing round.
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EUR 22 million financing round
An internal series E venture round led by existing investors Wellington Partners and HBM Healthcare Investments raised EUR 22.2 million equity. This will provide the Company funds to complete the next stages of development for Adrenomed’s lead candidate Adrecizumab (HAM8101) in septic shock, an area with very high unmet medical needs. Based on the detailed findings of the Phase II study AdrenOSS-2, which have been extensively explored over the past months, the Company is developing a personalized, biomarker-guided clinical trial strategy. Additionally, funds will be used for chemistry, manufacturing and control (CMC) and for regulatory interactions.
“We are grateful for the continued support and strong confidence of our investors in our approach to build a personalized medicine development strategy for Adrecizumab in sepsis,” said Dr. Andreas Bergmann, Chief Scientific Officer of Adrenomed. “This financing will pave the way for the next important steps towards the further clinical development of our therapeutic approach to restore and maintain vascular integrity in patients with septic shock.”
New AdrenOSS-2 data presented at DIVI
In topline data from the Phase II study AdrenOSS-2, Adrecizumab already has demonstrated a favorable safety profile and a significant and fast improvement of organ function, plus a substantial reduction on short-term mortality. Additional biomarker-guided data on early treatment start with Adrecizumab in septic shock patients and new efficacy data including 90 day mortality rate will now be presented at the Annual Congress of DIVI (German Interdisciplinary Association for Intensive Care and Emergency Medicine), December 2-4, 2020.
Management Changes
Dr. Jens Schneider-Mergener has stepped down as CEO of Adrenomed and the Board of Directors has identified an experienced successor who will be announced shortly.
Dr. Bernd Wegener, Chairman of Adrenomed’s Supervisory Board, said: “On behalf of all Adrenomed, we are sad to say farewell to Dr. Jens Schneider-Mergener. During his time with our company, Dr. Schneider-Mergener oversaw the completion and data analysis of the AdrenOSS-2 trial as well as the preparation for the next development steps of Adrecizumab. I would like to thank Dr. Schneider-Mergener for his many contributions and wish him all the best for the future.”
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