Category Archives: Accele Venture Partners
Financing to Support Research and Development of Pamlico’s Lead Clinical Candidate —Pneumomab™ — for the Treatment of Streptococcus pneumoniae Infections and Human Antibody Discovery Platform for Infectious Disease
OKLAHOMA CITY, April 28, 2015 /PRNewswire/ — Pamlico BioPharma, Inc., a research-stage biopharmaceutical company developing fully human monoclonal antibody (hmAb) therapeutics and point-of-care diagnostics, announced today a $2.2 million Series A equity financing led by Accele Venture Partners, the investing arm of life sciences accelerator Accele Biopharma, and the Oklahoma Seed Capital Fund, managed by i2E, Inc. Proceeds of the Series A financing will be used to advance Pamlico’s research and development of human antibody therapeutics and diagnostics for infectious diseases and cancer. Pamlico’s lead clinical candidate, PneumomAb™, is a mixture of serotype-specific human monoclonal antibodies against Streptococcus pneumoniae (SPN). PneumomAb™ is in preclinical development for the treatment of severe community-acquired pneumococcal pneumonia (SPN-CAP).
Clayton Duncan, Pamlico’s Chairman and CEO, stated, “We are very pleased with the progress of Pamlico and the additional support of our investors in the Series A financing. Currently we have one candidate, PneumomAb™, poised to enter clinical testing in 2016, and we are pursuing additional discovery and antibody isolation programs in important infectious diseases such as Hepatitis B, tuberculosis, human papillomavirus (HPV), and others. Pamlico’s proprietary RAPIDmAb™ technology platform leverages the natural “memory” immune response to yield high-affinity, neutralizing hmAbs with broad application for infectious disease. These antibodies are useful in the laboratory as reagents in manufacturing and diagnostics, and in the clinic as point-of-care diagnostics and targeted therapeutics. We have strong preclinical evidence that antibody therapeutics can be an important therapeutic option in pneumococcal pneumonia. If we can reproduce that in the clinic, PneumoMab™ could address at least two-fifths of pneumococcal infections, particularly for patients with moderate-to-severe community-acquired pneumococcal pneumonia that causes 500,000 hospitalizations of adults over 65 in the U.S. each year.”
Pamlico will continue to pursue multiple infectious disease targets using the RAPIDmAb™ platform, addressing a number of additional, hard-to-treat infections and expect to announce further programs through 2015 and into 2016. Mr. Duncan continued, “Our goal is to address important pathogens with unmet clinical needs using human antibody diagnostics and therapeutics. Antibodies have established products for auto-immune and cancer indications, and now the stage is set for antibodies to show they can do the same for infectious diseases. RAPIDmAb™ is a valuable discovery platform that allows us to go after multiple targets with dramatically reduced cost and improved speed compared to other antibody platforms.”
About Streptococcus pneumoniae and Pneumococcal Pneumonia
In the United States and Europe, Community-Acquired Pneumonia (CAP) caused by Streptococcus pneumoniae (SPN) affects over 50% of the more than 5 million cases, 1.1 million hospitalizations, 170,000 ICU admissions, and 68,000 deaths annually, and is subject to increasing concern related to multi-drug (beta-lactam and macrolide) resistance strains. Severe SPN-related CAP (PSI grade IV-V) has a 20-40% mortality rate. Patients over 65 years old represent 65% of hospitalizations and over 90% of deaths from pneumonia, and vaccination rates in adult patients are under 60%, leaving more than 70 million US adults unvaccinated to SPN. SPN-CAP hospitalizes over 500,000 adults over 65 in the U.S. each year. S. pneumoniae is classified as a “Qualifying Pathogen” under the recent GAIN Act to accelerate development of anti-infectives. PneumoMab™ may qualify as a “Qualified Infectious Disease Product,” which can confer Fast Track status on the product and an additional five years of market exclusivity from the Food and Drug Administration (FDA).
About Pamlico BioPharma, Inc.
Pamlico BioPharma develops fully-human monoclonal antibody (hmAb) therapeutics for the rapid diagnosis and treatment of infectious diseases and cancer. Pamlico isolated antibodies to all 24 vaccine serotypes of Streptococcus pneumoniae, influenza, varicella zoster, and rabies virus. Pamlico’s lead program is focused on severe pneumonia caused by Streptococcus pneumoniae (SPN). and is in IND-enabling studies for a mAb cocktail and a companion point-of-care (POC) diagnostic against three serotypes that account for over 40% of SPN infections in pneumococcal CAP. Additional discovery programs are underway for Hepatitis B, tuberculosis, human papillomavirus, and other ID targets. Pamlico was founded on technologies from the Oklahoma Medical Research Foundation (OMRF) and from Emory University, and its first program is anticipated to enter clinical trials in 2016. For additional information please visit www.pamlicobio.com.
Source: DowJones Venture Wire
August 03, 2012
A new accelerator program for fledgling drug developers is preparing to launch in Oklahoma City, and its organizers have held a first, $10 million close of a companion fund that will help launch the companies.
Clayton Duncan, who has been both an entrepreneur and a venture capitalist, said Accele BioPharma Inc., the accelerator, will look to double the size of its fund over the next year.
The first close included participation from several institutions, foundations and high-net-worth individuals, Mr. Duncan said, declining to name the investors in Accele Venture Partners I LP.
When Accele BioPharma opens its doors in the next six months, it will be home to one young company developing immunotherapy products and another developing technology to get better performance out of existing drugs. Mr. Duncan declined to name them, as they haven’t officially launched.
The accelerator–which will offer space, funding and management of companies–will be at full capacity when four companies have been admitted. The program is meant to be small, because the directors of the program will have a hands-on role in the management of each company launched there.
Mr. Duncan said Accele BioPharma will be looking to fund companies through their Series A rounds of $5 million to $10 million, and at that point attempt to link the companies to syndicates of outside investors. The accelerator will continue to fund the companies even after other investors have jumped on board.
The accelerator is partnered with the Oklahoma Medical Research Foundation, an independent research organization that employs more than 60 scientists and has helped to launch 13 companies over the years. The foundation will also offer office space and mentoring to newly formed companies.
In the late 1980s, Mr. Duncan served a one-year stint as an investor with InterSouth Partners . He left the firm to run drug-discovery company–and InterSouth portfolio holding–Sphinx Pharmaceuticals Inc. In 1992, Sphinx became the first North Carolina-based drug company to go public. It was later acquired by Eli Lilly & Co .
Mr. Duncan was also chief executive of muscular-dystrophy drug-maker Ercole Biotech Inc., and held the top post at Incara Pharmaceuticals Inc ., which developed drugs to treat gastrointestinal problems and cardiovascular problems, an online resume said.
The accelerator program is the result of Mr. Duncan’s belief in investing in early-stage companies, though many see that strategy as a tougher road than backing late-stage companies.
“I’ve always made money on early-stage deals,” he said, “and have not always on later-stage deals. There’s a trend out there toward later-stage, but I think that’s wrong.”
Visit Accele BioPharma at http://accelebio.com.
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