Vascular integrity company, Adrenomed, announces the closing of a €24m financing led by top-tier investors Wellington and HBM, potentially being one step closer to treating septic shock.
The series D financing round co-led by Wellington Partners and HBM Healthcare Investments enables Adrenomed AG to execute a proof-of-concept clinical program of lead product candidate Adrecizumab in treating septic shock. Adrecizumab is currently tested in a phase 2 clinical trial in patients with early septic shock and elevated plasma Adrenomedullin concentrations (bio-ADM®), and Wellington and HBM are “confident” that the investment has incredible potential.
What do you know about Adrenomed and Adrecizumab?
Adrenomed AG is a German privately-financed, clinical stage biopharmaceutical company, with the mission to rescue vascular integrity in order to save the lives of critically ill patients with limited treatment options.
Adrenomed’s lead candidate Adrecizumab is a first-in-class monoclonal antibody targeting Adrenomedullin, an essential regulator of vascular integrity, for treatment of life-threatening conditions typically associated with systemic inflammatory response (SIRS) and increased vascular leakage, congestion and shock. Currently, the most important target indications are sepsis and septic shock.
Dr. Andreas Bergmann, CSO of Adrenomed explains: “Septic shock is a life-threatening condition affecting millions of people worldwide with a remaining high mortality rate of approximately 30-50%.
“There is a very high unmet medical need to rescue vascular integrity in septic patients in intensive care. Our objective is the development of an effective medicine to prevent and treat septic shock.”
Wellington and HBM getting us a step closer to treating septic shock
Dr. Gerald Moeller, CEO of Adrenomed, added: “We are excited about Wellington Partners and HBM Healthcare Investments joining as new and highly experienced investors. This financing is an important validation of our unique therapeutic approach and will help us target the global market opportunity for Adrecizumab in sepsis.”
“We strongly believe that Adrecizumab may be the first approach to actually rescue vascular integrity in patients with early septic shock,” added Dr. Rainer Strohmenger, Managing Partner at Wellington Partners. “Adrecizumab may also be effective in addressing unmet needs in further life-threating and, so far, difficult to treat diseases associated with SIRS, endothelial barrier dysfunction, edema and tissue congestion.”
Commenting further on the investment, Dr. Priyanka Belawat, investment advisor at HBM Partners says: “Adrenomed has built a strong, biomarker-guided therapeutic approach based on a unique mode of action and we are proud to recognize the team’s success and long-term commitment with our investment.”
“With these funds, we are confident that Adrenomed will be able to transform this concept into a breakthrough therapy with the potential to improve and save lives.”
Wellington and HBM
Wellington Partners is a leading European Venture Capital firm investing in early and growth-stage Life Science companies, active in the fields of therapeutics, medical technology, diagnostics, digital health and industrial biotechnology.
Similarly, HBM Healthcare Investments invests in the healthcare sector, whereby the venture capitalists hold and manage an international portfolio of promising companies in the sectors of human medicine, biotechnology, medical technology, diagnostics and related areas.