ITB-Med AB secures equity investment in a $67M financing deal.

Sweden Investments 02 April 2018
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ITBMed announces the completion of an equity investment of up to $67 million, led by Mr. Pablo Legorreta, the founder and CEO of Royalty Pharma.

This capital injection will be used to develop Siplizumab in its lead indication of induction of tolerance in organ transplantation, where it has been successfully used in a phase II trial to permit organ transplants without the need of lifelong immunosuppression.

The funding will allow ITBMed to continue to optimize its research efforts led by world-class researchers and clinicians to develop groundbreaking treatments for transplant patients.

ITBMed, led by CEO Erik Berglund, is a biopharmaceutical company focusing on the development of specific immunomodulatory biologics for use primarily in organ and stem cell transplantation. The lead candidate drug Siplizumab is a monoclonal antibody in late-stage clinical development, which has shown significant potential in revolutionizing the treatment of organ transplant patients by allowing the complete discontinuation of all immunosuppressive drugs and restoration of a normal life.

ITBMed also has a strong preclinical research and development profile, including a collaboration with Columbia University, New York, USA, aiming to provide novel IP and break ground for new indications and treatments