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EryDel S.p.A.. (7/31/18). "Press Release: EryDel SpA Completes €15 Million Series B Financing". Urbino.

Organisations Organisation EryDel S.p.A.
  Organisation 2 Genextra S.p.A.
  Group Genextra (Group)
Products Product drug delivery technology (drug formulation technology)
  Product 2 venture capital
Person Person Benatti, Luca (EryDel 201804 CEO before Newron CEO + Founder)
     


EryDel SpA (www.erydel.com), a Drug Delivery Company specialized in the development of drugs and diagnostics delivered through autologous red blood cells, today announced the completion of a €15 million series B financing led by Genextra SpA, a leading Italian life sciences investment firm, with existing investors Innogest SGR and Focus Gestioni SGR also participating.In conjunction with the financing, Genextra’s CEO, Lorenzo Tallarigo, MD, has joined among others EryDel’s Board of Directors.

The proceeds will be used to progress the planned development, discussed with regulatory agencies, of EryDex in the treatment of neurological symptoms of Ataxia Telangiectasia (AT), a rare autosomal recessive disorder for which no established therapy is currently available. EryDel is planning a single, comprehensive, confirmatory, placebo-controlled trial that will determine the efficacy and safety of EryDex in AT. A recently completed pilot Phase II trial demonstrated statistically significant efficacy of EryDex on both the primary and secondary efficacy measures.

EryDel has obtained Orphan Drug designation for EryDex in the treatment of AT both from the FDA and the EMA.

"EryDel has taken another step to become a leading player in erythrocyte delivery technologies. We are delighted to have attracted Genextra, a world-class investor, to support key development steps for the regulatory approval of EryDex for the treatment of AT, and to leverage potential of EryDel’s drug delivery platform” said Luca Benatti, Chief Executive Officer and Board member of EryDel.

“We are very pleased to become involved with EryDel” added Lorenzo Tallarigo for Genextra. “We are particularly interested in products focused on orphan indications and believe that EryDex has great potential as a novel therapy for AT and other indications. We look forward to working with Luca and his team to help the company build its pipeline and achieve its full potential.”


About Ataxia Telangiectasia

Ataxia Telangiectasia (AT), is a rare autosomal recessive disorder with onset in the first years of life. AT is characterized by progressive cerebellar ataxia and oculomotor apraxia, oculocutaneous telangiectasias (90% of patients), recurrent sinopulmonary infections (70%), predisposition to cancer, increased alpha-fetoprotein levels (95%), and reduced or absent IgA levels (70%) and ATM protein (98%) (data from the Italian Registry for AT). The causative defective gene, ATM, cloned in 1995, encodes a PIK3 protein shown to play a pivotal role in the response to DNA damage and in the cell cycle control. As a consequence of the DNA repair deficiency, infections are the most common cause of death, and cancer the second most common. Most patients with AT die in the second decade of life, although some individuals survive longer. Neurological degeneration is the major contributor to the severe outcome of the disease. No established therapy is currently available; treatments are symptomatic and supportive only.


About EryDel

EryDel SpA is a Drug Delivery Company specialized in the development of drugs and diagnostics delivered through red blood cells (RBCs) by using a proprietary medical device technology. The most advanced product, EryDex (Dexamethasone Sodium Phosphate delivered through autologous RBCs), has potential for the treatment of a variety of indications. Clinical pilot studies have already been conducted in Europe in patients with chronic obstructive pulmonary disease, cystic fibrosis, ulcerative colitis and Crohn’s disease. Recently EryDel reported that treatment with EryDex met the primary endpoint of improvement in neurological symptoms in a 6-month prospective study in patients with AT, a rare autosomal recessive disorder for which no established therapy is currently available. Results for the Primary efficacy measure (change in total ICARS score) indicated a statistically significant reduction in the total score. Similarly, significant benefit was seen on secondary efficacy end-points. Overall, treatment with EryDex was well tolerated by the patients.


About Genextra SpA

Genextra is dedicated to identifying, validating and backing emerging discoveries in the life sciences sector and to fostering their development into novel therapies and tools. Genextra was created in 2004 by a group of prominent Italian entrepreneurs and financial institutions. To date, Genextra has raised nearly €120 million and represents one of very few examples in Italy of private capital invested for the benefit of research and innovation.


About Innogest

Innogest SGR is the Italian venture firm with offices in Turin, Milan and New York investing in innovation driven and fast growing companies. Since 2007, Innogest’s management team has built a solid experience in backing dynamic and innovative entrepreneurs and in transforming Italian companies into global leaders investing. As of today Innogest manages over €140 million across 2 funds.


About Focus Gestioni SGR

Focus Gestioni SGR, investment company of the Banca Marche Group, is the managament company of the Focus Impresa and Focus Impresa II funds, investing in small and medium enterprises with and early stage companies with ambitious development plans and mainly located in the central regions of Italy. Based in Jesi (An), Focus actually manages more than €50 million.


For Further information, contact
Luca Benatti, CEO
luca.benatti@erydel.com

   
Record changed: 2018-08-22

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