NORTHBROOK, Ill.--(BUSINESS WIRE)--Endevica Bio, a company developing first-in-class peptide drug candidates with better safety and efficacy properties, has closed a $10 million Series B funding. The existing investors had full participation rights in the round and purchased all of the shares that were being made available.
Endevica expects to use the proceeds from the financing for continuing the research and development of TCMBO7, its melanocortin‐3/4 antagonist peptide candidate, for the treatment of cachexia, as well as for working capital or other general corporate purposes.
“We have never been more encouraged about the future of our company and the research it is doing to treat those suffering from cachexia,” said Russell Potterfield, CEO and Executive Chairman of Endevica. “Having recently completed the Single Ascending Dose (SAD) arm of the Phase 1 study of TCMB07 which demonstrated it was well-tolerated at a dose above the anticipated therapeutic dose with no significant adverse events observed, we look forward to the release of results from the Multiple Ascending Dose (MAD) arm of the Phase 1 study that was completed the end of December.”
Mr. Potterfield continued, “This funding will enable us to advance our research and development of TCMB07, which we believe has the potential to address a macro-scale patient population with cachexia, a condition that worsens health outcomes of patients with many chronic illnesses, not only cancer. As we add to our scientific team over the next few months, we look forward to advancing the clinical development of TCMB07, achieving additional milestones, and helping the millions of people suffering with cachexia.”
Cachexia is a life-threatening aspect to many diseases. The symptoms of this disease include lack of appetite and a loss of muscle disproportionate to the reduction in caloric intake. People suffering from cachexia often have a more difficult time doing day-to-day tasks, fatigue, a reduced quality of life and reduced survival. In advanced cases, cachexia can lead to multi-organ failure due to high metabolic rate-induced apoptosis. According to the American Society of Clinical Oncology, cachexia is highly prevalent across malignancies, impacting approximately half of patients with advanced cancer.
About TCMCB07
TCMCB07 is a melanocortin‐3/4 antagonist peptide candidate in clinical development for the treatment of cachexia. It is designed to be a first-in-class peptide drug with the ability to cross the blood-brain barrier and act on previously inaccessible target receptors to modulate the body’s behavioral and metabolic response to chronic illness. Pre-clinical animal trial results show significant lean muscle mass gain (e.g., a reversal of the cachectic condition) during the administration of the drug. The results are consistent in cachexia arising from many different types of chronic disease.
About Endevica Bio
Endevica Bio creates first-in-class peptide drug candidates. Endevica’s technology platform, protected by a family of patents and pending applications, allows for the modification of peptides to modulate activity of G-protein coupled receptors behind the blood-brain barrier. Endevica’s initial drug candidate, TCMCB07, is designed to treat cachexia, which is caused by many diseases like cancer, renal failure and congestive heart failure. More information can be found at www.endevicabio.com.
