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Primmune Therapeutics raised $7 million in seed round of financing to accelerate the development of novel immunotherapies for the treatment of viral diseases and cancer
FREMONT, CA: Primmune Therapeutics raised $7 million in seed round of financing to back the development of novel orally-administered, small molecule toll-like receptor 7 (TLR7) agonists for long-term systemic activation of innate immunity. Some of the investors who participated in the seed financing were CAM Capital, Charlie McDermott, BioBrit, and BioRock Ventures.
In conjunction with the financing, Ezra Cohen, M.D., Chief, Division of Hematology-Oncology and Associate Director, Translational Science, Moores Cancer Center at the University of California, San Diego and Isan Chen, M.D., Chief Medical and Development Officer at Mirati Therapeutics will join the company’s clinical advisory board.
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"The recent advances in cancer immunotherapy have resulted in medicines that have had a profound benefit for cancer patients; yet, a majority of those patients do not respond or relapse. There is a strong rationale for combining agents that activate systemic innate immunity, like a TLR7 agonist, with drugs that engage systemic adaptive immunity, like checkpoint inhibitors, to potentially address patients who have an inadequate response to approved treatments," said Charlie McDermott, Chief Executive Officer of Primmune Therapeutics. "We are pleased to have secured financial support from our investors and local biotech executives who are committed to supporting the advancement of our small molecule TLR7 agonists into human studies in oncology and virology."
The functioning of Primmune is overseen by an experienced and dedicated team, which includes:
• Charlie McDermott, Chairman, President & Chief Executive Officer
• James Appleman, Ph.D., Co-founder, Board Member, SVP, R&D, and CSO
• Paulo Rangel, President, Co-founder, Board Member, Chief Business Officer
• Stephen Webber, Ph.D., Co-founder, and SVP Medicinal Chemistry
• Todd Harris, Ph.D., Board Member, CEO of Tyra Biosciences
Primmune Therapeutics harnesses the power of the innate immune system to develop a small molecule that is orally administered and is a toll-like receptor 7 (TLR7) agonists as immunotherapies for the treatment of cancer and viral diseases.
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