Excelimmune garners $4.5M in new financing

Woburn, MA-based Excelimmune has rounded up $4.5 million in new financing for its planned clinical development work on polyclonal antibodies. The financing--roughly half of the $8.9 million the developer is seeking--was detailed in an SEC filing, according to a report in Mass High Tech.

Excelimmune picked up $1 million in Series B money near the beginning of the year. Its lead therapy, Staphguard, is being developed for MRSA. So far investigators have completed animal studies and are waiting to gain regulatory clearance to begin clinical trial work. Back in 2007 Greenheart led a $2 million Series A for the developer.

The developer was founded four years ago by CEO Quinton Zondervan and its CSO, Vincent Coljee. Excelimmune has won an SBIR grant to back its work on a treatment for Clostridium difficile infection. C. diff is a bacterium that can cause diarrhea and serious intestinal conditions such as colitis.

- here's the report from Mass High Tech