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BAYER HEALTHCARE AG SPIN-OUT, ACTIMIS PHARMACEUTICALS, COMPLETES
$6 MILLION SERIES A FINANCING
San Diego, CA, April 28, 2005 — Actimis Pharmaceuticals, Inc.,
a startup company dedicated to developing and commercializing small
molecule therapeutics for respiratory and inflammatory diseases,
today announced a $6 million private placement of its Series A stock.
The financing was led by Sanderling Ventures of San Mateo, California.
Additional investors include Mitsui & Co. Venture Partners of
New York.
Bayer Healthcare AG has assigned the rights to five preclinical
research programs to Actimis, including two advanced programs with
highly optimized lead candidates and three additional research-stage
programs. The majority of the targets represent first-in-class molecules
and have broad application across respiratory diseases including
asthma and chronic obstructive pulmonary disease (COPD) as well as
inflammatory disorders including atopic dermatitis, rheumatoid arthritis,
psoriasis and others. Financial terms of the transaction were not
disclosed.
"Our validated targets and proprietary programs are well positioned
to produce novel therapeutics that address critical unmet medical
needs," said Kevin B. Bacon, Ph.D., founder and chief scientific
officer of Actimis. "We are now setting up state-of-the-art
laboratory facilities and looking to establish Actimis as a leading
force in drug development for respiratory and inflammatory diseases,
and we hope to file an investigational new drug application (IND)
with the FDA in the near future."
"Actimis' research programs have been developed to an
advanced stage using very high standards for both biological validation
and medicinal chemistry. The company’s work in chemokines and
chemoattractants, which are an emerging new area of discovery and
are the focus of the most advanced programs in Actimis' portfolio,
has a high potential for therapeutic intervention," said Peter
C. M. McWilliams, Ph.D., principal with Sanderling Ventures and chairman
of Actimis. "We look forward to working with Actimis
to rapidly advance these exciting programs to the clinic."
About Actimis Pharmaceuticals Inc.
Actimis Pharmaceuticals, Inc. is a privately held biopharmaceutical
company focused exclusively on the development and commercialization
of small molecule therapeutics for severe respiratory, inflammatory
and autoimmune diseases such as asthma, chronic obstructive pulmonary
disease (COPD), inflammatory dermatoses, inflammatory bowel disease
and rheumatoid arthritis. Actimis was spun off from Bayer Healthcare
AG in November 2004. Investors include Sanderling Ventures and
Mitsui & Co. Venture Partners.
About Sanderling Ventures
Founded in 1979, Sanderling is among the oldest investment firms
dedicated to biomedical investing. Sanderling's unique approach
combines a specialized investment focus with active management
and long-term commitment. Since its inception, Sanderling has supported
over 40 biomedical companies from very early stages through commercial
development.
About Mitsui & Co. Venture Partners
Mitsui & Co. Venture Partners (MCVP) is a New York based venture
capital firm that invests primarily in life science and technology
companies in North America. Since 1997, MCVP has created two funds
totaling approximately $250 million in capital and has invested in
over 40 companies. Having offices in New York, Tokyo and Palo Alto,
the firm actively seeks technology and business seeds in Japan and
offers North American start-up companies value-added opportunities
in Japan and Asia.
About Bayer HealthCare AG
Bayer HealthCare AG, a subgroup of Bayer AG with sales of approximately
8.9 billion Euro in 2003, is one of the world's leading, innovative
companies in the health care and medical products industry. The
company combines the global activities of the divisions Animal
Health, Biological Products, Consumer Care, Diagnostics and Pharmaceuticals.
34,600 people are employed by Bayer HealthCare worldwide. The company's
products enhance well-being and quality of life by diagnosing,
preventing and treating disease.
Media Contact
Carolyn Hawley
(858) 527-3484
chawley@irpr.com
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