Adrenomed will use the proceeds to advance testing of adrecizumab
German Adrenomed AG has baged €24m in equity financing from HBM Healthcare Investments and Wellington Partners.
The company said it will use the proceeds to advance clinical testing of adrecizumab, the companies first-in-class antibody targeting endothelial dysintegrity, which triggers a series of disorders of unmet medical need such as congestive heart failure or septic shock. A clinical Phase II proof-of-concept trial of adrecizumab designed to demonstrate reduction in mortality of 300 critically ill sepsis patients will report results in summer 2019.
Adrecizumab targets bio-ADM, the biologically active part of the vasoactive peptide hormone adrenomedullin. Last year, the company provided evidence that adrecizumab leads to a redistribution of bio-ADM from smooth muscle cells surrounding the vasculature into blood vessels, which stops vascular leakage, the underlying cause of a series of therapeutically underserved medical conditions.
To be enrolled in the trial, patients have been stratified with an companion diagnostic assay that is indicative for vascular leakage, validated and marketed by Sphingotec GmbH.
Adrenomed plans also to assess efficacy of adrecizumab in a clinical trial starting next year in patients with congestion in heart failure. The antibody’s target, bio-ADM, has been shown to be capable of diagnosing residual congestion in heart failure patients. Residual congestion is the leading cause of death after discharge of heart failure patients who appeared to be successfully treated with diuretics.
Septic shock is a life-threatening condition affecting millions of people worldwide with a mortality rate of 30-50%.