Welcome!

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 www.wilsontherapeutics.com 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. www.healthcap.se

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. www.abingworth.com

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. www.mvm.com

 

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 EastBanc Technologies will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. EastBanc Technologies has been working at the frontier of technology since 1999. Today, the firm provides full-lifecycle software development delivering flexible technology solutions that seamlessly integrate with existing systems – whether on premise or cloud. EastBanc Technologies partners with p...
SYS-CON Events announced today that Tintri Inc., a leading producer of VM-aware storage (VAS) for virtualization and cloud environments, will exhibit at the 18th International CloudExpo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, New York, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
SYS-CON Events announced today that Isomorphic Software will exhibit at SYS-CON's [email protected] at Cloud Expo New York, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Isomorphic Software provides the SmartClient HTML5/AJAX platform, the most advanced technology for building rich, high-productivity enterprise web applications for any device. SmartClient couples the industry’s broadest, deepest UI component set with a java server framework to deliver an end-...
SYS-CON Events announced today that BMC Software has been named "Siver Sponsor" of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2015 at the Javits Center in New York, New York. BMC is a global leader in innovative software solutions that help businesses transform into digital enterprises for the ultimate competitive advantage. BMC Digital Enterprise Management is a set of innovative IT solutions designed to make digital business fast, seamless, and optimized from mainframe to mo...
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, wh...
Companies can harness IoT and predictive analytics to sustain business continuity; predict and manage site performance during emergencies; minimize expensive reactive maintenance; and forecast equipment and maintenance budgets and expenditures. Providing cost-effective, uninterrupted service is challenging, particularly for organizations with geographically dispersed operations.
The IoT is changing the way enterprises conduct business. In his session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, discuss how businesses can gain an edge over competitors by empowering consumers to take control through IoT. We'll cite examples such as a Washington, D.C.-based sports club that leveraged IoT and the cloud to develop a comprehensive booking system. He'll also highlight how IoT can revitalize and restore outdated business models, making them profitable...
SYS-CON Events announced today that Alert Logic, Inc., the leading provider of Security-as-a-Service solutions for the cloud, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Alert Logic, Inc., provides Security-as-a-Service for on-premises, cloud, and hybrid infrastructures, delivering deep security insight and continuous protection for customers at a lower cost than traditional security solutions. Ful...
The essence of data analysis involves setting up data pipelines that consist of several operations that are chained together – starting from data collection, data quality checks, data integration, data analysis and data visualization (including the setting up of interaction paths in that visualization). In our opinion, the challenges stem from the technology diversity at each stage of the data pipeline as well as the lack of process around the analysis.
SYS-CON Events announced today that Commvault, a global leader in enterprise data protection and information management, has been named “Bronze Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Commvault is a leading provider of data protection and information management...
Many banks and financial institutions are experimenting with containers in development environments, but when will they move into production? Containers are seen as the key to achieving the ultimate in information technology flexibility and agility. Containers work on both public and private clouds, and make it easy to build and deploy applications. The challenge for regulated industries is the cost and complexity of container security compliance. VM security compliance is already challenging, ...
Designing IoT applications is complex, but deploying them in a scalable fashion is even more complex. A scalable, API first IaaS cloud is a good start, but in order to understand the various components specific to deploying IoT applications, one needs to understand the architecture of these applications and figure out how to scale these components independently. In his session at @ThingsExpo, Nara Rajagopalan is CEO of Accelerite, will discuss the fundamental architecture of IoT applications, ...
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York and Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty ...
As cloud and storage projections continue to rise, the number of organizations moving to the cloud is escalating and it is clear cloud storage is here to stay. However, is it secure? Data is the lifeblood for government entities, countries, cloud service providers and enterprises alike and losing or exposing that data can have disastrous results. There are new concepts for data storage on the horizon that will deliver secure solutions for storing and moving sensitive data around the world. ...
SYS-CON Events announced today that MangoApps will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. MangoApps provides modern company intranets and team collaboration software, allowing workers to stay connected and productive from anywhere in the world and from any device. For more information, please visit https://www.mangoapps.com/.