Regado Biosciences, Inc. Completes $40 Million Series D Financing
Thursday 17th of December 2009 10:17
BASKING RIDGE, N.J., Dec. 17 /PRNewswire/ — Regado Biosciences, Inc., a privately held company leading the development of antithrombotic therapeutic aptamers with active control agents, today announced the completion of a $40 million Series D financing. The round, led by new investor Edmond de Rothschild Investment Partners, part of The LCF Rothschild Group, was joined by existing investors Domain Associates, Quaker Bioventures, Aurora Funds, Caxton Advantage Life Sciences Fund and other individual investors.
Proceeds from the financing will be used to continue the development of Regado's lead program in arterial thrombosis, REG1, with specific emphasis on the completion of the phase 2b (RADAR) trial currently underway. Additionally, the funding will support the completion of the ongoing phase 1 trial with the Company's second product candidate, REG2, focused on venous thrombosis as well as the identification of a clinical candidate therapeutic aptamer/active control agent pair in the REG-AP platelet adhesion/activation inhibitor discovery program.
Raphael Wisniewski, Partner at Edmond de Rothschild Investment Partners, said, "Since the introduction of the first antithrombotic therapy, physicians have faced the need to prevent harmful clots while allowing healing clots to form and develop normally. Regado's exclusive paired aptamer/active control agent technology represents an optimized solution to this dilemma. We and the other investors are convinced of the large unmet medical need for this technology, which represents a novel approach to the practice of personalized medicine in the cardiovascular acute and sub-acute care market."
David J. Mazzo, Ph.D., President and CEO of Regado Biosciences, commented, "We are extremely pleased to welcome Edmond de Rothschild Investment Partners as an investor in the Company. Regado has a comprehensive antithrombotic pipeline, which reflects the company's expertise in the discovery and development of therapeutic aptamers with active control agents for application in the areas of both arterial and venous thrombosis. Our innovative products represent a simple and elegant approach to addressing a key unmet medical need in a market that, taken in aggregate, today exceeds $20 billion worldwide."
ABOUT REGADO BIOSCIENCES
Regado Biosciences is pioneering a new therapeutic technology with the creation and development of two-component drug systems. Each system comprises a nuclease-stabilized RNA aptamer that can be controlled directly by its specific and complementary oligonucleotide active control agent. This technology is being applied to injectable antithrombotics, including anticoagulants and antiplatelet agents, a multi-billion dollar market in need of therapeutics with improved safety profiles and a greater degree of therapeutic control. Regado's technology is designed to give physicians the ability to actively and directly control each system's therapeutic effect providing a safe and unique approach to personalized medicine. Moreinformation can be found at www.regadobio.com.
ABOUT REG1 and REG2
Regado's lead program, the anticoagulant system REG1, consists of two parenteral agents both administered by IV bolus, the first being a potent highly selective Factor IXa inhibitor (RB006) and the second being its complementary active control agent (RB007). RB007 can be used to selectively completely or partially reverse the anticoagulant effect of RB006. REG1, presently in phase 2b clinical trial, is intended for application in arterial thrombosis applications, initially in Acute Coronary Syndrome patients undergoing Percutaneous Coronary Intervention. REG2, Regado's second product candidate, consists of a subcutaneously administered formulation of RB006 paired with the IV bolus formulation of RB007. REG2 is currently undergoing phase 1 clinical testing and is intended for use in venous thrombosis indications.
RB006 is a member of a class of compounds called aptamers. Aptamers are single stranded oligonucleotides that adopt a specific conformation enabling direct, specific inhibition of the targeted protein. A key unique feature of aptamers derives from the fact that they are formed from nucleic acids. As such, their pharmacologic activity can be controlled by a matched, complementary oligonucleotide active control agent (RB007; the Watson-Crick base pair complement of a fraction of the agent to be controlled), which can bind to the aptamer, removing it from its target and reversing it biologic effects.
ABOUT EDMOND DE ROTHSCHILD INVESTMENT PARTNERS
Paris-based Edmond de Rothschild Investment Partners (EdRIP) is dedicated to minority investments into privately-owned companies. It has currently 750 million Euro under management which are being invested primarily as life sciences venture capital and growth capital. Its life science team of seven professionals has over 90 years of cumulated experience in the life science industry and has a proven track record in biotechnology and medical technology investments. The team has approximately 270 million Euro under management, recently raised its 155 million Euro BioDiscovery 3 fund, which is to be invested during the next years. EdRIP is part of the group La Compagnie Financiere Edmond de Rothschild, Paris, France. For more information, please visit www.edrip.fr.
ABOUT DOMAIN ASSOCIATES
Founded in 1985, Domain Associates, L.L.C. is a venture capital firm with an exclusive focus on life sciences. With $2.5 billion of capital under management, Domain has offices in Princeton, NJ and San Diego, CA. For more information, please visit www.domainvc.com.
ABOUT QUAKER BIOVENTURES
Quaker BioVentures is a venture capital firm with $700 million under management, dedicated to investing in life science companies in the Mid-Atlantic region and contiguous states. The firm leads investments in companies across the spectrum of the life science industry, including biopharmaceuticals, medical devices, human diagnostics, specialty pharmaceuticals and healthcare services. Quaker BioVentures invests in companies at all stages of development, from early-stage businesses to public companies. To learn more, visit www.quakerbio.com.
ABOUT AURORA FUNDS
The Aurora Funds is a venture capital firm that provides capital, connections and strategic guidance to entrepreneurs with early-stage healthcare and information technology companies. Founded in 1994, Aurora manages over $234 million in five venture funds. The firm's three investment professionals have over 45 years of combined venture capital investing and operational experience. For more information, see www.aurorafunds.com.
ABOUT CAXTON ADVANTAGE LIFE SCIENCES FUND
Caxton Advantage Life Sciences Fund invests in life sciences companies with an emphasis on late-stage private and public drug development companies. The Fund is affiliated with Caxton Associates, LP, a trading and investment firm that together with its affiliates has approximately $7.65 billion under management.