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News and Information Article
SAN FRANCISCO, Sept. 13 // -- Anthera Pharmaceuticals, a
specialty pharmaceutical company developing therapies for the treatment of
serious inflammatory diseases, today announced it closed an initial $36
million in venture financing. The funding was co-led by VantagePoint
Venture Partners and Sofinnova Ventures and are joined by Pappas Ventures,
Mitsubishi International Corporation, along with Series A-1 investors Sears
Capital Management and SIM Equity. Eli Lilly and Company and Shionogi &
Co., Ltd. also received equity as part of Antheras obligations under the
recently announced license agreement. Annette Bianchi, Managing Director,
and co-Head of VantagePoints Healthcare Practice Group and Jim Healy,
General Partner of Sofinnova Ventures were named to the Board of Directors.
The funding will be used to initiate clinical development of Antheras
portfolio of anti-inflammatory compounds licensed from Eli Lilly and
Company and Shionogi & Co., Ltd. The Companys novel secretory
phospholipase programs are preparing for Phase II clinical testing in
multiple indications. Anthera will initiate clinical studies later this
year for the programs lead compound A-001 as an early intervention therapy
for acute chest syndrome in patients with underlying sickle cell disease --
a $500 million worldwide market opportunity.
"We are pleased to have the support of a strong group of investors that
share our confidence and excitement in the promise of this unique class of
anti-inflammatory compounds," said Paul F. Truex, President and Chief
Executive Officer of Anthera. "Anthera will benefit from the experience and
commitment of our new investors and the management team and I look forward
to partnering with them to pursue additional opportunities to enhance our
portfolio."
"Anthera is well positioned to build an attractive portfolio and
leverage the commercial potential of sPLA2, inhibitors in multiple
indications," said Annette Bianchi, VantagePoint Venture Partners. "We look
forward to working toward this goal with our co-investors and the talented
management team of Anthera."
"Anthera is a compelling company for Sofinnova because it falls into
our investment sweet spot," commented Sofinnova Ventures General Partner
Jim Healy, M.D., Ph.D. "With a first rate management team and a promising
drug pipeline spun off from big pharma, it has the same poise for success
that we have experienced with some of its predecessors in the pulmonary
space, such as Actelion, Intermune and CoTherix."
Anthera Product Development -- A-001 and Secretory Phospholipase A2
(sPLA2)
Anthera will develop the programs lead compound A-001 as an early
intervention therapy for acute pulmonary diseases such as acute chest
syndrome in patients with underlying sickle cell disease. Worldwide, nearly
200,000 suffer from some form of this genetic blood disorder which results
in an estimated 60,000 hospitalizations per year and significantly reduces
life expectancy. Acute chest syndrome is a severe respiratory complication
of sickle cell disease and is the leading cause of death in patients with
this life threatening genetic disorder. Recent academic clinical studies in
sickle cell patients have demonstrated that serum sPLA2 levels rise in
advance of the acute chest syndrome, creating a unique opportunity for
early intervention.
A-001 is a novel potent inhibitor of secretory phospholipase A2 -- a
group of enzymes responsible for triggering the release of arachidonic acid
and subsequently the production of leukotrienes and prostacyclins and other
mediators of inflammation. In various animal and in vitro studies it has
been demonstrated that sPLA2 activity results in the release of several
highly reactive mediators that promote and/or amplify inflammation. In
several preclinical and clinical studies sPLA2 levels correlated with
inflammatory response. Elevated levels of sPLA2 have been reported in
several body fluids (e.g., serum, synovial fluid, and bronchoalveolar
lavage fluid) from humans with several inflammatory conditions including
rheumatoid arthritis, asthma, coronary artery disease (atherosclerosis),
lung injury and dermatitis.
About Anthera Pharmaceuticals
Anthera Pharmaceuticals is a pharmaceutical development company focused
on the development and advancement of promising clinical products for the
treatment of serious inflammatory diseases. The Company has acquired
worldwide rights (ex. Japan) to a series of clinical and pre-clinical
products that inhibit the enzymatic activity of secretory phospholipase A2
-- a group of enzymes responsible for the release of arachidonic acid and
subsequent production of leukotrienes, prostacyclins and other mediators of
inflammation. These highly potent compounds inhibit novel-upstream steps in
the inflammation cascade and have the potential to address a variety of
diseases. For more information please visit: http://www.anthera.com.
About VantagePoint Venture Partners
VantagePoint Venture Partners is a diversified venture firm with more
than $4.0 billion of capital under management. The Firm invests exclusively
in technology driven companies and is organized around deep expertise and
resources in five principal areas of interest: Healthcare, CleanTech,
Communications, Semiconductors, and Software/Internet. VantagePoint is a
multi-stage investor and believes in applying a hands-on and team oriented
approach to build companies of lasting value. For more information please
visit http://www.vpvp.com.
About Sofinnova Ventures
Sofinnova Ventures is a venture capital firm emphasizing a diversified
investment strategy through financing early stage companies in the life
science and information technology sectors. Founded in 1974, the San
Francisco-based firm currently has $600 million under management.
Sofinnovas mission is to create value by providing entrepreneurs with the
resources, experience and networks necessary to turn their bright ideas
into thriving businesses. With deeply rooted ties to Europes leading
financial, technology and venture institutions, Sofinnova is also uniquely
positioned to foster trans-Atlantic synergy and market acceleration. For
more information, visit http://www.sofinnova.com.
Contact:
Press Relations
510-277-1208
PR@anthera.com
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