Mountain View, CA and TOKYO – December 8, 2008 – REGiMMUNE Corporation, a privately held biopharmaceutical company focused on developing technologies and products for immune disorders, today announced that it has received two separate grants totaling more than $12 million from the Japan Science and Technology Agency (JST) and from National Institute of Biomedical Innovation (NIBIO). Under terms outlined in the five-year grant from JST, REGiMMUNE will develop its reVax drug for cedar allergy; and the three-year grant from NIBIO will fund the development of its ToleroVax drug (RGI-2001), a new immunosuppressant for Graft-versus-Host Disease (GvHD) associated with stem cell transplantation.
"The substantial funds that REGiMMUNE is receiving from these two prestigious organizations emphasize the importance of alternative financing opportunities that are available to us, despite the current worldwide economic situation," stated Haru Morita, President and Chief Executive Officer of REGiMMUNE. "The financial support from JST and NIBIO also serves to validate the success of the company's research and development capabilities to date, as well as the potential of our ToleroVax and reVax technologies to produce important new pharmaceutical products," Mr. Morita continued.
Earlier this year, REGiMMUNE completed an $8 million Series B financing to advance the company's compound RGI-2001for GvHD. The new grants will be used to complete the preclinical programs for the company's two lead projects, RGI-1001 for cedar allergy and RGI-2001, as well as to provide the initial funding for the clinical programs.
About REGiMMUNE
REGiMMUNE is a biotechnology company focused on the discovery, development and commercialization of immune regulatory therapeutics to treat life-threatening and debilitating conditions, including allergies, autoimmune diseases and inflammatory disorders. In addition to its potential for GvHD, ToleroVax is a therapeutic candidate for autoimmune diseases such as Multiple Sclerosis (MS) and Systemic Lupus, in which down-regulation of and/or dysfunction of regulatory T-cells lead to serious up-regulation of immunity against the auto-antigen. reVax is the company's second proprietary technology platform, which works by modulating the immune system by enhancing antigen-specific immune regulatory cells. This technique is expected to be useful in conditions such as Ragweed Allergy, Rheumatoid Arthritis and MS, where control of an abnormal immune response is desirable. reVax is being utilized to advance several compounds through clinical development and eventual commercialization of a broad range of products for REGiMMUNE and its partners. The company is headquartered in Tokyo, Japan and has a U.S. subsidiary in Mountain View, California. For more information, visit www.regimmune.com.
About JST
As a nation built on the creativity of science and technology, the Japanese Science and Technology Agency was established as a core organization for implementing Japan's science and technology policy in line with the objectives of the Science and Technology Basic Plan. For more information, visit www.jst.go.jp.
About NIBIO
Established in April 2005, with the Osaka branch of National Institute of Health Sciences as the nucleus and integrating aspects of the National Institute of Infectious Diseases and the Pharmaceuticals and Medical Devices Agency, NIBIO is an independent administrative agency facilitating new pharmaceutical and medical device development by supporting research and development at private corporations and universities. For more information, visit www.nibio.go.jp.