Cambridge, MA-based PeptImmune has garnered $8.2 million in a fourth round of funding. New Enterprise Associates, MPM Capital, Hunt Ventures L.P., Boston Medical Investors and Silicon Valley Bank Capital led the round. The funding will be used to advance clinical development of Peptimmune's multiple sclerosis treatment, PI-2301. Additional funding, and a new, unnamed investor, are expected in the second quarter of 2008.
"The Series D investment will provide the necessary capital to complete two clinical trials by the end of 2008...The completion of these two studies will offer proof of principal for PI-2301, which is a second generation copolymer targeted at treating patients with relapsing and remitting multiple sclerosis," noted PeptImmune's CEO Thomas P. Mathers.
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