Regenerative medicine company ViaCyte, Inc Wednesday stated that it plans to complete its USD80m Series D financing in two tranches led by Bain Capital Life Sciences and joined by TPG and RA Capital Management, existing investor, Sanderling Ventures as well as several individual supporters.
In the second half of this year, ViaCyte has secured commitments for over USD100m in new financing with WL Gore and Associates and CRISPR Therapeutics,
The proceeds from the financing will be used to further advance ViaCyte's novel stem cell-derived islet replacement therapies. These therapies have the potential to provide a functional cure for patients with type 1 diabetes as well as an important option for patients with type 2 diabetes who depend on insulin to help control their disease.
Currently, ViaCyte has two stem cell-derived islet replacement therapy candidates at the clinical stage: PEC-Direct and PEC-Encap. The PEC-Direct is a a transformative therapy for high-risk type 1 diabetes patients and is currently being evaluated in the second stage of a Phase 1/2 trial, with initial proof-of-efficacy data expected as early as mid-2019. The PEC-Encap product candidate is initially being developed for all patients with type 1 diabetes and clinical evaluation is expected to resume next year.
Raymond James acted as the sole placement agent on the transaction.
vTv Therapeutics secures USD51m private placement for cadisegliatin Phase 3 study
AbbVie names new chief executive officer
SkinBioTherapeutics expands foot care products in AMEA with Dermatonics partnership
Diamyd Medical granted US FDA Fast Track designation for Diamyd diabetes treatment
Insulet's Omnipod 5 integration with Abbott FreeStyle Libre 2 Plus Sensor secures CE Mark approval
Kyowa Kirin enrols first subject in phase two tivozanib eye drops (KHK4951) clinical trial
China accepts GSK's Shingrix application for at-risk adults
Novo Nordisk to boost manufacturing capacity with acquisition of three fill-finish sites
Breye Therapeutics commences phase 1b/2a danegaptide clinical trial
DexCom Inc breaks ground on new manufacturing facility in Ireland
VibroSense Dynamics AB secures provisional patent for chemotherapy-induced nerve damage prediction
Innovent Biologics signs collaboration agreement with Sanegene Bio USA
Japan approves GSK's filing for Arexvy vaccination for at-risk adults