GlobeImmune Raises $41.2 Million in Series C Financing
LOUISVILLE, CO -- Sep 26, 2007 -- GlobeImmune, Inc. today announced it has raised $41.2 million through a Series C Preferred Stock financing. This round was led by Wexford Capital LLC, and as a result of its investment, Paul A. Mieyal, Ph.D., has joined GlobeImmune's Board of Directors.
Other new investors to GlobeImmune included Celgene, Inc., Mellon Family Investment Company, Richard King Mellon Foundation, Eminent Venture Capital, Boston Life Science Venture, and WRF Capital. Previous investors participating in the current round included HealthCare Ventures, Morgenthaler Ventures, Sequel Venture Partners, Lilly Ventures, Medica Venture Partners, Adams Street Partners, Biogen Idec, Inc., Pac-Link Bioventures, China Investment and Development (CIDC), Yasuda Enterprise Development, Partners Healthcare, and GC&H Investments.
The Company has raised $88 million in venture financing to date.
GlobeImmune's lead infectious disease product, GI-5005, is scheduled to begin a randomized Phase 2 clinical trial in combination with standard of care in patients with chronic hepatitis C infection at over 40 U.S. centers in the second half of 2007. The Company's lead oncology product, GI-4000, is currently being studied in a placebo-controlled Phase 2 clinical trial in patients with resectable pancreas cancer.
"We are very pleased with the level of investor enthusiasm surrounding our clinical programs," said Timothy C. Rodell M.D., CEO of GlobeImmune. "The proceeds from this financing should enable us to reach the primary endpoints for our lead Phase 2 programs, allow the initiation of two additional Phase 2 trials for GI-4000, and advance another product into clinical development."
About GlobeImmune, Inc.
GlobeImmune is a private, Colorado-based company developing active immunotherapies called TarmogensÂ® for the treatment of cancer and infectious diseases. The Company's lead product candidate, GI-5005, is a Tarmogen being developed for the treatment of chronic hepatitis C infection that has completed Phase 1b clinical trials. GI-5005 is designed to complement both the current and emerging standard of care for hepatitis C infection through the direct elimination of chronically infected cells. The Company plans to initiate a randomized, placebo-controlled Phase 2 study of GI-5005 in combination with standard of care for chronic hepatitis C infection before the end of 2007. The Company's lead oncology program, GI-4000, is designed to be a treatment for cancers of the lung and gastrointestinal tract. A randomized, placebo-controlled Phase 2 trial in patients with resectable pancreas cancer in combination with adjuvant gemcitabine is ongoing.
For additional information, please visit the company's website at www.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 readers not to place undue reliance on the forward-looking statements contained in this release. 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.