COUR Pharmaceuticals Secures $105 Million in Series A Financing Co-Led by Lumira Ventures and Alpha Wave Ventures
- Funds will be used to support the advancement of COUR’s Myasthenia Gravis (MG) and Type 1 Diabetes (T1D) product candidates into Phase 2a clinical trials
- Participating investors include Roche Venture Fund, Pfizer, Bristol Myers Squibb, Angelini Ventures, and JDRF T1D Fund
CHICAGO, Jan. 30, 2024 (GLOBE NEWSWIRE) — COUR Pharmaceuticals, a clinical-stage biotechnology company focused on the development of first-in-class, disease modifying therapies designed to induce antigen-specific tolerance for immune-mediated diseases, today announced the closing of a Series A investment round, securing approximately $105 million in financing. The investment was co-led by Lumira Ventures and Alpha Wave Ventures, with participation from Roche Venture Fund, Pfizer (as part of the Pfizer Breakthrough Growth Initiative), Bristol Myers Squibb, Angelini Ventures, and the JDRF T1D Fund. 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 company’s immune tolerance platform, including Phase 2a proof-of-concept clinical studies in Myasthenia Gravis and Type 1 Diabetes, and other pipeline opportunities. These product candidates, in addition to existing Phase 2 partnered programs with Takeda Pharmaceuticals in Celiac Disease and Ironwood Pharmaceuticals in Primary Biliary Cholangitis, continue to strengthen COUR’s position as the leader in antigen-specific immune tolerance.
“The impressive syndicate of thought-leading investors and prominent strategic investors is a testament to COUR’s platform technology and our paradigm-changing potential for patients impacted by a variety of autoimmune diseases,” said John J. Puisis, founder and chief executive officer of COUR. “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. We believe COUR’s proprietary and strongly differentiated platform is a versatile and first-in-class approach to meet this critical medical need. We are dedicated to collaborating with COUR and its partners to help advance these potentially cutting-edge treatments for immune-related diseases.”
About COUR Pharmaceuticals:
COUR Pharmaceuticals is a clinical-stage biotechnology company developing therapies to treat patients with autoimmune and inflammatory diseases. COUR’s first-in-class therapies are based on our proprietary antigen-specific immune tolerance platform and are designed to reprogram the immune system to address the underlying root cause of immune-mediated diseases. Data from multiple clinical and preclinical programs have demonstrated the ability of COUR’s 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.com
About Lumira Ventures:
Founded in 2007, Lumira Ventures is a multi-stage life sciences investment firm with offices in Toronto, Montréal, 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.
For more information, visit www.lumiraventures.com
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. Its flagship global venture and growth fund, Alpha Wave Ventures, aims to invest in best-in-class venture and growth-stage companies and endeavors to be helpful long-term partners to the founders and management teams. Alpha Wave manages a variety of investment partnerships that cover several asset classes, themes, and geographies.
For more information, please visit www.alphawaveglobal.com
Contacts
For Investor Relations
Brian Bock, Chief Financial Officer
bbock@courpharma.com
For Media
Jason Braco, Ph.D.
jbraco@lifescicomms.com
