COUR Pharmaceuticals – a clinical-stage biotechnology company focused on the development of first-in-class, disease-modifying therapies designed to induce antigen-specific tolerance for immune-mediated diseases – announced the closing of a Series A investment round, securing about $105 million in financing.
The funding was co-led by Lumira Ventures and Alpha Wave Ventures, with participation from Roche Venture Fund, Pfizer (as part of the Pfizer Breakthrough Growth Initiative), Bristol Myers Squibb, Angelini Ventures, and the JDRF T1D Fund. In connection with the funding, Benjamin “Beni” Rovinski, Ph., Managing Director of Lumira Ventures, and Simon Greenwood, Senior Investment Director of Roche Venture Fund, will join the COUR Board of Directors.
The proceeds will enable COUR to advance multiple wholly owned product candidates leveraging the company’s immune tolerance platform, including Phase 2a proof-of-concept clinical studies in Myasthenia Gravis and Type 1 Diabetes, and other pipeline opportunities. In addition to existing Phase 2 partnered programs with Takeda Pharmaceuticals in Celiac Disease and Ironwood Pharmaceuticals in Primary Biliary Cholangitis, these product candidates continue to strengthen COUR’s position as the leader in antigen-specific immune tolerance.
KEY QUOTES:
“The impressive syndicate of thought-leading investors and prominent strategic investors is a testament to COUR’s platform technology and our paradigm-changing potential for patients impacted by a variety of autoimmune diseases. We are excited to have this support as we advance our pipeline and revolutionize antigen-specific immune tolerance while avoiding immune system suppression in our mission to potentially bring to market life changing therapies for patients.”
– John J. Puisis, founder and chief executive officer of COUR
“There is an urgent need for innovative strategies aimed at restoring self-tolerance safely and more effectively in autoimmune disorders. We believe COUR’s proprietary and strongly differentiated platform is a versatile and first-in-class approach to meet this critical medical need. We are dedicated to collaborating with COUR and its partners to help advance these potentially cutting-edge treatments for immune-related diseases.”
– Benjamin “Beni” Rovinski, Ph.D., managing director of Lumira Ventures
