– USA, VA – HemoShear Therapeutics, Inc., a clinical-stage company developing treatments for rare metabolic disorders, has raised $40 million in a Series A financing led by Suvretta Capital along with Janus Henderson Investors, Adage Capital Management LP and other private investors.
The Series A funding will enable the company to complete a phase 2 study of its lead compound, HST5040, for the treatment of methylmalonic acidemia and propionic acidemia, as well as fund future clinical studies and earlier-stage programs.
Concurrent with the financing, Dr. David Friedman, Managing Director at Suvretta Capital, and John Tilton will join the board of HemoShear.
Dr. Friedman has been a biopharma analyst and investor for 15 years with a focus on rare disease companies. Mr. Tilton is currently the Chief Commercial Officer at Biohaven Pharmaceutical Holding Company Ltd. and was a founding commercial leader at Alexion Pharmaceuticals. He has over 25 years of experience successfully commercializing biopharmaceutical products, launching start-up biotech companies as well as raising capital in private and public markets.
Reginald Woods, a founding investor and board member of HemoShear, will retire from the board.
Mr. Woods has worked closely with the management team to formulate its strategy, recruit its leadership and raise capital.
“I will never find words to express the true value of Reg’s wisdom and advice in guiding our company,” said Jim Powers. “Reg foresaw the potential of HemoShear’s REVEAL-TxTM platform and had the courage to write the first check to launch our company.”
“We are excited to have attracted such an outstanding group of investors to support our progress in developing a new therapy for MMA and PA, two devastating diseases which currently have no pharmacological treatment options,” said Chairman and CEO, Jim Powers. “This financing will not only advance our treatment for MMA and PA, but also help us expand our pipeline of other programs for rare diseases with high unmet need.”
“With HST5040 about to enter the clinic and successful drug discovery partnerships with Takeda in NASH and Horizon in gout, HemoShear has demonstrated the broad utility of their REVEAL-TxTM platform to model human disease and identify novel drug targets,” said David Friedman, MD, Managing Director at Suvretta Capital. “We look forward to the company delivering potential benefit to patients with rare diseases and building value for investors.”
About HemoShear Therapeutics
HemoShear Therapeutics, Inc. is a privately-held clinical-stage company developing treatments for rare metabolic disorders with significant unmet patient need. HemoShear’s drug discovery platform, REVEAL-Tx, enables the Company’s scientists to create best-in-class, biologically relevant human disease models to uncover the underlying mechanisms of disease, translate those discoveries into drug targets, and select candidates that may treat patients successfully. In addition to the Company’s proprietary rare disease programs, HemoShear has exclusive partnerships to identify novel therapeutic approaches in nonalcoholic steatohepatitis and undisclosed rare liver disease with Takeda, and in gout with Horizon Therapeutics.
For more information: https://hemoshear.com/
- Disclaimer - News, data, and statements included in this release are intended exclusively for general information purposes. Talent4Boards does not guarantee that news is accurate or about the correct person and accepts neither liability for the consequences of the reader’s reliance, nor responsibility for the accuracy of the information. Nothing in this release should be considered for decisions about referred securities. Products and brand names may be trademarks or registered trademarks of their respective owners.
