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More MS news articles for March 2003

Peptimmune pockets $41.2M to fund immune-disorder research

March 12, 2003
Boston Business Journal

Cambridge-based Peptimmune Inc. has secured $41.2 million in venture capital financing to fund the development of its four therapies for autoimmune disorders currently in late-stage preclinical trials.

The company also announced Wednesday that it has appointed Robert Carpenter as its new CEO. Carpenter had been the company's president and board chairman.

Peptimmune, which was acquired by Cambridge-based Genzyme Corp. in July 1999 and later spun out in January 2002, has developed a technology that inhibits harmful immune responses while preserving normal autoimmune function. The company is also applying this approach to diseases that cause inflammation, like rheumatoid arthritis and multiple sclerosis.

The company hopes to move its lead compound, a therapy for pemphigus vulgaris, an autoimmune disorder of the skin, into Phase I clinical trials later this year.

The Series B venture capital round was co-led by Boston-based MPM Capital LP and Menlo Park, Calif.-based New Enterprise Associates, and featured additional investors from Westwood-based Prism Venture Partners, Palo Alto, Calif.-based Vanguard Ventures, Dallas-based Hunt Ventures LP and Boston Medical Investors Inc., which Carpenter founded in 1994.

© 2003 American City Business Journals Inc.