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Series A round nets KalVista $13.2 million
08-23-2011
SHARING OPTIONS:
SOUTHAMPTON, England—KalVista Pharmaceuticals, a new
Southampton, United Kingdom-based ophthalmology company, has closed a Series A
financing round that netted the company £8 million (approximately $13.2 million)
from leading investors Novo A/S and SV Life Sciences. KalVista is focused on
developing new treatments for diabetic macular edema (DME), which represents a
leading cause of vision loss in adults in developed countries.
“I am delighted that KalVista has garnered substantial
financial support from leading life sciences investors Novo A/S and SV Life
Sciences to fund this exciting new business,” said Andrew Crockett, CEO of
KalVista, in a press release. “We have an ambitious target to become a leading
company focused on the development of novel treatments for DME and believe we
have the team, the expertise, the assets and the approach to achieve this
goal.”
KalVista’s aim is to develop novel, small molecule plasma
kallikrein inhibitors, which KalVista acquired from Vantia Therapeutics, along
with all relevant intellectual property. The company’s pipeline is targeted
towards intravitreal injection and oral administration routes.
Currently, treatment for DME consists of vascular
endothelial growth factor (VEGF) inhibitors. In normal amounts, the protein
VEGF prompts angiogenesis, or the growth of new blood vessels. When it is
overexpressed, however, it can lead to vascular disease in the retina as well
as metastasis of tumors as they take advantage of increased blood supply. While
intravitreal VEGF inhibitors are undoubtedly effective in minimizing macular
edema and increasing visual acuity, not all DME patients respond fully to this
avenue of treatment.
“Diabetic macular edema remains one of the major challenges
in ophthalmology, and is a leading cause of visual loss in the developed
world,” Dr. Lloyd Paul Aiello, Director of Joslin’s Beetham Eye Institute and
co-founder of KalVista, said in a press release. “While new advances such as
VEGF inhibitors are a breakthrough in treatment, current evidence demonstrates
that a substantial number of patients with DME do not respond fully. I believe
KalVista’s approach, targeting a novel non-VEGF pathway, could represent a
further important step in treating this condition.”
Plasma kallikrein inhibitors represent a new method of
treatment for DME. Plasma kallikrein is a circulating serine protease, one with
an attractive amount of potential given the central role it is believed to play
in the pathogenesis of DME within diseased retinas. On the company’s website,
KalVista notes that plasma kallikrein “is thought to be central to the
pathological processes taking place within the diseased retina – inflammation,
increased retinal vascular permeability and consequent edema, angiogenesis and
hemorrhage – and is not essential for normal function or survival.” By not
being pivotal in any normal functions, plasma kallikrein is an ideal target
since blocking or suppressing it will not affect other processes.
“The exciting discoveries regarding plasma kallikrein
inhibition and its potential as a new approach to treating DME have created a
significant opportunity,” said Graham Boulnois of SV Life Sciences and Chairman
of KalVista’s board of directors, in a press release. “We believe that in
KalVista we have put in place all the necessary scientific, clinical and drug
discovery and development expertise, and sufficient funding, to capitalize on
this opportunity and create a highly differentiated and valuable company.”
KalVista’s Board of directors will include Boulnois as
Chairman, Martin Edwards of Novo A/S as Non-executive Director and Crockett as
CEO. Code: 08231101 Back |
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