COUR Pharmaceuticals Secures $105 Million in Series A Financing Co-Led by Lumira Ventures and Alpha Wave Ventures
Summary
Funds will be used to support the advancement of COURs Myasthenia Gravis (MG) and Type 1 Diabetes (T1D) product candidates into Phase 2a clinical trialsCHICAGO, Jan. 30, 2024 (GLOBE NEWSWIRE) -- COUR Pharmaceuticals, a clinical-stage biotechnology company focused on the development of rst-in-class, disease modifying therapies designed to induce antigen-specic tolerance for immune-mediated diseases, today announced the closing of a Series A investment round, securing approximately $105 million in financing. In connection with the financing, Benjamin Beni Rovinski, Ph.D., 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 that leverage the companys immune tolerance platform, including Phase 2a proof-of-concept clinical studies in Myasthenia Gravis and Type 1 Diabetes, and other pipeline opportunities. 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.Benjamin Beni Rovinski, Ph.D., managing director of Lumira Ventures added, "There is an urgent need for innovative strategies aimed at restoring self-tolerance safely and more effectively in autoimmune disorders. Data from multiple clinical and preclinical programs have demonstrated the ability of COURs product candidates to induce antigen-specific immune tolerance and have the potential to treat a wide range of autoimmune and inflammatory diseases.COUR is developing product candidates in Myasthenia Gravis and Type 1 Diabetes in addition to having partnered products in Celiac Disease (with Takeda Pharmaceuticals), and Primary Biliary Cholangitis (with Ironwood Pharmaceuticals).For more information, please visit www.courpharma.comAbout Lumira Ventures: Founded in 2007, Lumira Ventures is a multi-stage life sciences investment firm with offices in Toronto, Montr\xe9al, Vancouver, and Boston. We partner with mission-driven entrepreneurs building companies that harness rapidly evolving advancements in medicine to develop transformative products for patients while delivering strong financial returns for our investors and meaningful economic value and impact for society.About Alpha Wave Global: Alpha Wave is a global investment company with offices in New York, Miami, London, Abu Dhabi, Tel Aviv, Bangalore, Jakarta, and Sydney.