Published on December 11, 2009 at 4:44 AM
- Investment Follows Successful Phase Ii Clinical Results With cat
Allergy T-cell
Vaccine
- Funding to Progress ToleroMune(R) T-cell Allergy Vaccines Into
Late-Stage Development
Circassia Ltd, a specialty biopharmaceutical company focused on allergy,
today announced that it has completed a GBP15 million ($25 million)
fundraising. The investment round, which was led by Imperial Innovations and
supported by existing shareholders including Invesco Perpetual and Lansdowne
Partners, was significantly oversubscribed and is the company's third
successful fundraising. The investment follows recently announced positive
phase II results with Circassia's ToleroMune(R) cat allergy T-cell vaccine.
The financing will support the acceleration of the programme into late-stage
development and advance the clinical development of Circassia's broader
portfolio of novel allergy T-cell vaccines.
"The success of this funding round is a great vote of confidence in
Circassia's unique allergy T-cell vaccine technology and the dedication of
our team," said Steve Harris, Circassia's CEO. "Our most recent clinical
results clearly demonstrate the potential of our ToleroMune(R) technology, as
well as scientifically validating our novel use of T-cell vaccines to improve
the treatment of allergy sufferers. This new investment recognises the
importance of these results, and represents a strategic milestone in the
development of Circassia's next generation allergy treatments."
SOURCE Circassia Ltd