minor peptimmune update:
Peptimmune Announces the Second Close of Series D Private Financing
CAMBRIDGE, Mass., July 16, 2008 /PRNewswire via COMTEX/ -- Peptimmune, Inc., a privately held biotechnology company, announced that it has completed a second close of $8.9 million of its Series D preferred stock offering with its investor syndicate led by New Enterprise Associates, MPM Capital, Hunt Ventures L.P., Boston Medical Investors and Silicon Valley Bank Capital, and its Chairman of the Board. The proceeds of the financing are primarily being used to advance clinical development of Peptimmune's PI-2301 for the treatment of multiple sclerosis.
"The Series D investment allows us to further evaluate PI-2301 in multiple sclerosis patients," stated Thomas P. Mathers, President and CEO. "The primary goal of our current Phase Ib study is to demonstrate safety of PI-2301 in multiple sclerosis patients. The Phase Ib will investigate the pharmacologic effect of PI-2301 in MS patients in the most extensive study of biomarkers in patients treated with copolymers to date."