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