CalciMedica Achieves Milestone and Draws Down Second Tranche of $12 Million Series C Financing
LA JOLLA, Calif., Dec. 15 CalciMedica, a biotechnology company focused on developing novel small molecule inhibitors of CRAC channels for the treatment of autoimmune and inflammatory diseases, announced the closing of the second tranche of its Series C financing.
CalciMedica received its seed financing from SR One in December 2006 and closed a Series B round led by Sanderling Ventures, with participation from SR One, in August 2007. The Company's current $12 million Series C round, led by BiogenIdec New Ventures, with participation from Sanderling Ventures and SR One, was closed in November 2008, at which time CalciMedica received the first tranche of funding. To date, the Company has raised a total of $19 million.
"CalciMedica's investors are pleased to recognize the Company's accomplishments in validating the potential of CRAC channels as a therapeutic target and effectively modulating their activity with small molecules in vitro and in vivo," said Peter McWilliams, Ph.D., a Principal with Sanderling Ventures and Chairman of CalciMedica's Board of Directors. "We believe that this therapeutic approach holds significant promise to yield a novel class of oral therapeutics to treat a wide spectrum of diseases."
"In the last year, CalciMedica has made significant progress in identifying and characterizing selective CRAC channel inhibitors with attractive pharmaceutical properties that have the potential to become safe and effective drugs to treat inflammatory and autoimmune diseases," said Gonul Velicelebi, Ph.D., Founder, President and Chief Executive Officer of CalciMedica.
About CalciMedica, Inc.
CalciMedica is dedicated to the discovery and development of novel small molecule drugs for the treatment of autoimmune and inflammatory diseases. A significant focus of the company's drug discovery strategy is based on the specific inhibition of calcium release-activated calcium (CRAC) channels, a key component of the Icrac pathway in immune cells. The Icrac calcium entry pathway is essential for the adaptive immune response, and has been genetically validated as an important drug target in humans. CalciMedica has acquired exclusive rights to STIM1 and Orai1 which function together as gatekeepers of the Icrac pathway and were cited in Science among signaling breakthroughs of 2005 and 2006, respectively. CalciMedica is headquartered in La Jolla, California.
SOURCE CalciMedica, Inc.
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