ImmusanT secures $20M in Series A financing

ImmusanT, Inc. announced today it has raised $20 million in Series A financing from Vatera Healthcare Partners LLC to advance development of the biotechnology company's immunotherapeutic vaccine Nexvax2®, companion diagnostic and monitoring tool for celiac disease. The proceeds will fund the Nexvax2 therapeutic and diagnostic development plan to the point of demonstrating proof-of-concept. ImmusanT expects to initiate the next clinical trial in early 2012.

"ImmusanT's Nexvax2 and companion diagnostic address the rapidly growing number of patients diagnosed with celiac disease whose only option is a strict diet that eliminates gluten. At Vatera we seek to invest in therapies that fulfill unmet medical needs and offer a significant clinical benefit to patients. We believe that ImmusanT's technology has the potential to dramatically improve the quality of life for celiac disease patients," said Sundar Kodiyalam, Managing Director of Vatera Holdings LLC.

ImmusanT's product pipeline includes Nexvax2, which combines three proprietary peptides that elicit an immune response in patients with celiac disease who carry the immune recognition gene HLA-DQ2, which includes approximately 80% of patients. ImmusanT Scientific Founder and Chief Scientific Officer Dr. Bob Anderson discovered the three peptides responsible for making gluten toxic to people with the disease. Nexvax2 is designed to tolerize celiac disease patients to the toxic effects of gluten, enabling them to return to a normal diet. Safety, tolerability and bioactivity of Nexvax2 have been established in a Phase 1 clinical study and presented at this year's Digestive Disease Week.

ImmusanT is also developing a proprietary whole-blood functional T-cell test for use both as a standalone diagnostic for celiac disease and as a monitoring tool for the therapeutic. In the company's dual-track product development strategy, clinical trial subjects will be screened using the diagnostic along with standard serology tests to identify patients most likely to respond to Nexvax2.

"There is tremendous enthusiasm for Nexvax2 from celiac patients and clinicians who want a therapy that allows patients to resume a normal diet and return to good health and improved quality of life. The financial backing and support of Vatera Healthcare Partners will allow us to round out our team and advance our research and development programs to bear out this hypothesis," said Leslie J. Williams, Founder, President and CEO of ImmusanT, Inc.