Bayhill Therapeutics, a company focused on autoimmune diseases, has raised $15.8 million in series B funding for a total round of $51.2 million. "Acknowledging success of BHT-3009, the first drug candidate from Bayhill's antigen-specific platform, current investors paid additional funds into Bayhill to advance its second antigen-specific drug candidate, BHT-3021 for Type 1 diabetes, into Phase I/II human clinical trials," said Mark W. Schwartz, Ph.D., President and CEO, Bayhill Therapeutics. The company also announced that it has begun dosing patients in a Phase II trial of with BHT-3009, a multiple sclerosis treatment.
- see the company's press release
PLUS: Vancouver-based Xenon Pharmaceuticals has raised $31 million in funding. The round was led by MX Associates and LipoteRx and will support the the growth of Xenon's clinical programs. Xenon focuses on neurological, cardiovascular and metabolic diseases. Release
ALSO: Theranox has raised over $14 million in Series A financing to fund clinical trials and commercialize the use of gaseous nitric oxide for the treatment of chronic wounds. The round was led Quaker BioVentures and NewSpring Capital. Release