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Adrenomed AG. (11/26/18). "Press Release: Adrenomed Closes EUR 24 M Financing Led by Wellington and HBM". Hennigsdorf, Munich & Zug.

Organisations Organisation Adrenomed AG
  Organisation 2 HBM Healthcare Investments AG (SIX: HBMN)
  Group HBM (Group)
Products Product adrecizumab
  Product 2 venture capital
Index term Index term Adrenomed–SEVERAL: investment, 201811 financing round Series D €24m with new + co-lead investors Wellington + HBM plus existing investors
Persons Person Möller, Gerald (HBM Bio Ventures 201007 Advisor former Roche + Boehringer Mannheim CEO 1995–1997)
  Person 2 Belawat, Priyanka (HBM 201806 Investment Advisor at HBM Partners)
     


- The financing round was led by top-tier life science venture capitalists Wellington Partners and HBM Healthcare Investments, joined by existing shareholders

- The new funds will be used to execute a proof-of-concept clinical program of lead product candidate Adrecizumab in early septic shock

- Adrecizumab provides a highly novel approach to treat life-threatening conditions by focusing on the preservation of vascular integrity


Adrenomed AG, the vascular integrity company, today announced the closing of a EUR 24 million series D financing round co-led by Wellington Partners and HBM Healthcare Investments as new investors. The new funds will be invested in the clinical development program of lead product candidate Adrecizumab. Adrecizumab is currently tested in a phase II clinical trial in patients with early septic shock and elevated plasma Adrenomedullin concentrations (bio-ADM(R)).

Adrenomed's lead candidate Adrecizumab is a first-in-class monoclonal antibody targeting Adrenomedullin, an essential regulator of vascular integrity, for treatment of life-threatening conditions associated with systemic inflammatory response (SIRS) and increased vascular leakage, congestion and shock. The most important target indications are sepsis and septic shock.[1]

The excellent safety and tolerability of Adrecizumab were demonstrated in two Phase I trials.[2] Adrecizumab is currently under clinical evaluation in a biomarker-guided (bio-ADM(R)), double-blinded, placebo-controlled, randomized, multicenter proof-of-concept Phase II study in 300 patients with early septic shock (AdrenOSS-II, NCT03085758).[3] To date already 100 patients have been enrolled.

"Septic shock is a life-threatening condition affecting millions of people worldwide with a remaining high mortality rate of approximately 30-50%.[4] There is a very high unmet medical need to rescue vascular integrity in septic patients in intensive care. Our objective is the development of an effective medicine to prevent and treat septic shock," commented Dr. Andreas Bergmann, CSO of Adrenomed.

Dr. Gerald Moeller, CEO of Adrenomed, added: "We are excited about Wellington Partners and HBM Healthcare Investments joining as new and highly experienced investors. This financing is an important validation of our unique therapeutic approach and will help us target the global market opportunity for Adrecizumab in sepsis."

"We strongly believe that Adrecizumab may be the first approach to actually rescue vascular integrity in patients with early septic shock," added Dr. Rainer Strohmenger, Managing Partner at Wellington Partners. "Adrecizumab may also be effective in addressing unmet needs in further life-threating and, so far, difficult to treat diseases associated with SIRS, endothelial barrier dysfunction, edema and tissue congestion."

"Adrenomed has built a strong, biomarker-guided therapeutic approach based on a unique mode of action and we are proud to recognize the team's success and long-term commitment with our investment," said Dr. Priyanka Belawat, Investment Advisor at HBM Partners. "With these funds, we are confident that Adrenomed will be able to transform this concept into a breakthrough therapy with the potential to improve and save lives."


About Adrenomed

Adrenomed AG is a German privately-financed, clinical stage biopharmaceutical company. Adrenomed's mission is to rescue vascular integrity in order to save the lives of critically ill patients with limited treatment options. Founded in 2009 by a management team with decades of in-depth experience in sepsis and deep knowledge in diagnostics and drug development, the Company's lead product candidate is Adrecizumab, a clinical-stage, first-in-class monoclonal antibody. Adrecizumab targets the vasoprotective peptide Adrenomedullin, an essential regulator of vascular integrity. Adrecizumab is currently under clinical evaluation in a biomarker-guided, double-blinded, placebo-controlled, randomized, multicenter proof-of-concept Phase II study with 300 patients suffering septic shock. Excellent safety and tolerability were demonstrated in two Phase I trials.


About Wellington Partners

Wellington Partners is a leading European Venture Capital firm investing in early- and growth-stage Life Science companies, active in the fields of Therapeutics, Medical Technology, Diagnostics, Digital Health and Industrial Biotechnology. With funds totaling more than EUR1.0 billion, thereof EUR400 million committed to Life Sciences, Wellington Partners has been actively supporting world-class private companies translating true innovation into successful businesses of exceptional growth. Since 1998 Wellington Partners has invested in 42 Life Science start-ups including Actelion (acquired by Johnson & Johnson), Definiens (acquired by AZ/Medimmune) and Rigontec (acquired by Merck Sharp & Dohme).


About HBM Healthcare Investments Ltd

HBM Healthcare Investments invests in the healthcare sector. The company holds and manages an international portfolio of promising companies in the human medicine, biotechnology, medical technology, and diagnostics sectors and related areas. Many of these companies have their lead products already available on the market or at an advanced stage of development. The portfolio companies are closely tracked and actively guided in their strategic direction. This is what makes HBM Healthcare Investments an interesting alternative to investments in big pharma and biotechnology companies. HBM Healthcare Investments, with funds under management of more than EUR 1 bn, has an international shareholder base and is listed on SIX Swiss Exchange (HBMN).


Contact

Adrenomed AG
Frauke Hein, Ph.D. (CBO)
phone: +49 (0)3302 2077814
fhein@adrenomed.com

Media Inquires

MC Services AG
Eva Bauer/Julia von Hummel
phone: +49 (0)89 21022880
adrenomed@mc-services.eu


References:

[1] N Engl J Med 2010;363(7):689-91
[2] Br J Clin Pharmacol 2018;84(9):2129-41
[3] clinicaltrials.gov/ct2/show/NCT03085758?term=NCT03085758&rank=1
[4] JAMA 2016;315(8):775-787

   
Record changed: 2018-11-29

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