DENVER, CO, September 14, 2005, GlobeImmune, Inc., a biopharmaceutical company developing immunotherapy products called Tarmogens™ for the treatment of cancer and chronic infectious diseases, today announced the initial successful closings of a Series B Preferred Stock financing, raising $34.3 million. This round was led by Lilly Ventures and included other new investors Medica Holdings, Adams Street Partners, Biogen Idec, Inc., Genentech, Inc., Partners Healthcare and GC&H Investments. All of the Company’s original Series A Preferred Stock investors, HealthCare Ventures, LLC, Morgenthaler Ventures and Sequel Venture Partners also participated in the financing. In conjunction with their investment, Darren Carroll, from Lilly Ventures, and Dr. Ehud Geller, from Medica Holdings have joined the GlobeImmune Board of Directors. Additionally, Dr. Robert Peach, from Biogen Idec, will join the GlobeImmune Scientific Advisory Board.
“This is a very significant milestone for us,” said Dr. Timothy C. Rodell, CEO of GlobeImmune. “This funding will enable us to continue the development of our two lead clinical products, GI-4000 and GI-5005, evaluating the clinical utility of the Tarmogen technology in oncology and infectious disease. We believe the participation of both corporate and traditional venture capital funds in the Series B financing highlights the broad potential of, and interest in, the Tarmogen technology.”
Previously, GlobeImmune received $4 million in grant financing from a variety of sources prior to completing an $8 million Series A Preferred Stock financing. The proceeds of the Series A were used to develop scaleable manufacturing methods, demonstrate the preclinical efficacy of the Tarmogen platform, initiate the company’s first Phase 1 clinical trial in cancer with GI-4000 and file an IND on a second Tarmogen, GI-5005, for the treatment of chronic hepatitis C infection. The Company plans to use the Series B funds to complete a placebo-controlled Phase 2 clinical trial of GI-4000 in patients with pancreatic cancer as well as complete a placebo-controlled Phase 1b clinical trial of GI-5005 in patients with chronic hepatitis C infection.
This release is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any of the securities nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification of the securities under the securities laws of any such state.
About GlobeImmune, Inc.
GlobeImmune, Inc., is an emerging biopharmaceutical company pioneering the discovery, development and manufacturing of potent, targeted molecular immunotherapy products called Tarmogens for the treatment of cancer and infectious diseases. The Company’s lead product series, GI-4000 for the treatment of cancers of the lung and gastrointestinal tract, is currently in Phase 1 clinical trials. The Company initiated a Phase 1b trial for its second product, GI-5005, a Tarmogen for the treatment of chronic hepatitis C infection in July 2005. Tarmogens are whole, heat-killed recombinant Saccharomyces cerevisiae yeast genetically modified to express one or more protein antigens designed to stimulate a T cell response by the immune system against diseased cells.
For additional information, please visit the company’s website at https://globeimmune.com/.
This press release contains forward-looking statements that involve risks and uncertainties, including statements relating to initiation and progress of the Company’s clinical trial programs. Actual results could differ materially from those projected and the Company cautions investors not to place undue reliance on the forward-looking statements contained in this release.