Click here to close now.


News Feed Item

Wilson Therapeutics Secures $40 Million Private Financing To Advance Late Stage Development Program For Wilson's Disease

STOCKHOLM, April 16, 2014 /PRNewswire/ -- Wilson Therapeutics, a biopharmaceutical company, today announced that it has closed a $40 million Series B financing co-led by new investors, Abingworth LLP and MVM Life Science Partners LLP ("MVM"). The company's founding investor, HealthCap, also participated in the round.

"We are pleased with this significant support from our new as well as existing investors, who represent some of the most experienced in the global life sciences industry," said Jonas Hansson, Chief Executive Officer of Wilson Therapeutics. "Their combined experience and financial backing will enable us to advance WTX101 through clinical development with the aim of making it available and addressing the unmet medical needs in patients with Wilson's disease."

Wilson Therapeutics will use these funds to advance the clinical development of WTX101 (bis-choline tetrathiomolybdate), a novel de-coppering agent being developed as a new treatment for Wilson's disease. Wilson's disease is a rare genetic disorder that prevents the body from regulating copper and can lead to serious liver and brain damage.

"We are excited to be supporting this strong team, including Jonas Hansson and Hugh Rienhoff, who has significant prior experience and success at developing a chelator for an orphan disease indication," said Bali Muralidhar, M.D., Ph.D., Partner at MVM.  "This is an area of significant unmet need and WTX101 offers a highly differentiated new treatment option."

"We believe that the demonstrated and differentiated clinical profile of WTX101, and specifically its potential to avoid the often debilitating side effects of existing therapies, will make this compound the cornerstone of treatment for Wilson's disease in the coming decades," said Genghis Lloyd-Harris, M.D., Ph.D., Partner at Abingworth.

Drs. Lloyd-Harris and Muralidhar will both join the Wilson Therapeutics Board of Directors.

WTX101 is the proprietary bis-choline salt of tetrathiomolybdate (TTM), which has been evaluated for various indications in clinical studies involving over 500 patients.  Through its unique mechanism of action, TTM has been shown to rapidly lower and control copper levels in both Wilson's disease and other patients.  Previous data also suggest that TTM may stabilize neurological function and reduce the risk of neurological deterioration after initiation of treatment in Wilson's disease patients with neurological involvement.  WTX101 has been shown to lower and maintain copper levels with once or twice daily oral dosing.  WTX101 has received orphan drug designation in both the United States and the European Union.

About Wilson Therapeutics
Wilson Therapeutics is a privately-held biopharmaceutical company focused on improving the lives of patients with Wilson's disease through development of new treatment options and support for increased awareness and education about Wilson's disease.  The Company's lead product candidate, WTX101, is currently in clinical development as a treatment for Wilson's disease, a rare genetic disease that affects approximately 1 in 15,000 people worldwide.  Wilson Therapeutics was founded by HealthCap, one of the largest venture capital firms in Europe specialized in life sciences. Visit for more information.

About HealthCap
HealthCap is an independent venture capital firm exclusively dedicated to life science investments. Its focus is on breakthrough therapies that address unmet medical needs and aim to bring significant value to patients and society.  The firm has done close to 100 investments, including 30 start-ups, and made more than 50 exits. Since its inception in 1996, HealthCap has raised more than €900 million from a group of long-term international investors, making it one of the largest specialized providers of venture capital to launch and build transforming companies that make a difference.

About Abingworth LLP
Abingworth is an international investment group dedicated exclusively to the life sciences and healthcare sectors. The firm invests across all stages of company development including early and late-stage private deals, VIPEs (Venture Investments in Public Equities) venture growth and public companies. Founded in 1973, Abingworth has a lengthy track record of building market leading companies.  The specialist team of 16 professionals has a broad range of skills, including scientific and business expertise as well as investment banking, recruitment and legal knowledge.  These resources are made available to portfolio companies.  Abingworth has funds under management of over $1.25 billion and offices in London, Menlo Park (California) and Boston.

About MVM Life Science Partners LLP
MVM Life Science Partners LLP is a premier global healthcare venture capital firm that has been investing in emerging healthcare companies since 1998.  Its three funds under management total $500 million and its team of executives is located in London and Boston.


SOURCE Wilson Therapeutics

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
SYS-CON Events announced today that JFrog, maker of Artifactory, the popular Binary Repository Manager, will exhibit at SYS-CON's @DevOpsSummit Silicon Valley, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Based in California, Israel and France, founded by longtime field-experts, JFrog, creator of Artifactory and Bintray, has provided the market with the first Binary Repository solution and a software distribution social platform.
SYS-CON Events announced today that Key Information Systems, Inc. (KeyInfo), a leading cloud and infrastructure provider offering integrated solutions to enterprises, will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Key Information Systems is a leading regional systems integrator with world-class compute, storage and networking solutions and professional services for the most advanced softwa...
Cloud computing delivers on-demand resources that provide businesses with flexibility and cost-savings. The challenge in moving workloads to the cloud has been the cost and complexity of ensuring the initial and ongoing security and regulatory (PCI, HIPAA, FFIEC) compliance across private and public clouds. Manual security compliance is slow, prone to human error, and represents over 50% of the cost of managing cloud applications. Determining how to automate cloud security compliance is critical...
“The Internet of Things transforms the way organizations leverage machine data and gain insights from it,” noted Splunk’s CTO Snehal Antani, as Splunk announced accelerated momentum in Industrial Data and the IoT. The trend is driven by Splunk’s continued investment in its products and partner ecosystem as well as the creativity of customers and the flexibility to deploy Splunk IoT solutions as software, cloud services or in a hybrid environment. Customers are using Splunk® solutions to collect ...
SYS-CON Events announced today that Agema Systems will exhibit at the 17th International Cloud Expo®, which will take place on November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Agema Systems is the leading provider of critical white-box rack solutions to data centers through the major integrators and value added distribution channels.
SYS-CON Events announced today that Interface Masters Technologies, provider of leading network visibility and monitoring solutions, will exhibit at the 17th International CloudExpo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Interface Masters Technologies is a leading provider of high speed networking solutions focused on Gigabit, 10 Gigabit, 40 Gigabit and 100 Gigabit Ethernet network access and connectivity products. For over 20 ye...
As enterprises capture more and more data of all types – structured, semi-structured, and unstructured – data discovery requirements for business intelligence (BI), Big Data, and predictive analytics initiatives grow more complex. A company’s ability to become data-driven and compete on analytics depends on the speed with which it can provision their analytics applications with all relevant information. The task of finding data has traditionally resided with IT, but now organizations increasingl...
DevOps is gaining traction in the federal government – and for good reasons. Heightened user expectations are pushing IT organizations to accelerate application development and support more innovation. At the same time, budgetary constraints require that agencies find ways to decrease the cost of developing, maintaining, and running applications. IT now faces a daunting task: do more and react faster than ever before – all with fewer resources.
Interested in leveraging automation technologies and a cloud architecture to make developers more productive? Learn how PaaS can benefit your organization to help you streamline your application development, allow you to use existing infrastructure and improve operational efficiencies. Begin charting your path to PaaS with OpenShift Enterprise.
SYS-CON Events announced today that Harbinger Systems will exhibit at SYS-CON's 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Harbinger Systems is a global company providing software technology services. Since 1990, Harbinger has developed a strong customer base worldwide. Its customers include software product companies ranging from hi-tech start-ups in Silicon Valley to leading product companies in the US a...
SYS-CON Events announced today that Machkey International Company will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Machkey provides advanced connectivity solutions for just about everyone. Businesses or individuals, Machkey is dedicated to provide high-quality and cost-effective products to meet all your needs.
In recent years, at least 40% of companies using cloud applications have experienced data loss. One of the best prevention against cloud data loss is backing up your cloud data. In his General Session at 17th Cloud Expo, Bryan Forrester, Senior Vice President of Sales at eFolder, will present how organizations can use eFolder Cloudfinder to automate backups of cloud application data. He will also demonstrate how easy it is to search and restore cloud application data using Cloudfinder.
Clearly the way forward is to move to cloud be it bare metal, VMs or containers. One aspect of the current public clouds that is slowing this cloud migration is cloud lock-in. Every cloud vendor is trying to make it very difficult to move out once a customer has chosen their cloud. In his session at 17th Cloud Expo, Naveen Nimmu, CEO of Clouber, Inc., will advocate that making the inter-cloud migration as simple as changing airlines would help the entire industry to quickly adopt the cloud wit...
SYS-CON Events announced today that Secure Infrastructure & Services will exhibit at SYS-CON's 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Secure Infrastructure & Services (SIAS) is a managed services provider of cloud computing solutions for the IBM Power Systems market. The company helps mid-market firms built on IBM hardware platforms to deploy new levels of reliable and cost-effective computing and hig...
Organizations already struggle with the simple collection of data resulting from the proliferation of IoT, lacking the right infrastructure to manage it. They can't only rely on the cloud to collect and utilize this data because many applications still require dedicated infrastructure for security, redundancy, performance, etc. In his session at 17th Cloud Expo, Emil Sayegh, CEO of Codero Hosting, will discuss how in order to resolve the inherent issues, companies need to combine dedicated a...