Bayhill Therapeutics doses patients with multiple sclerosis in a Phase II trial and raises an additional $15.8 million as an extension to its Series B financing
Palo Alto, CA – April 10, 2006 – Bayhill Therapeutics Inc. has begun dosing patients with BHT-3009, the company’s experimental drug candidate, in a Phase II company sponsored trial for multiple sclerosis. The Phase II study is a multi-center, double-blind, placebo-controlled evaluation with an MRI endpoint. In a related development, current investors indicated strong support for Bayhill’s antigen-specific tolerance platform by raising an additional $15.8 million in private equity. The company has now closed its Series B round totaling $51.2 million.
“In a Phase I/II trial evaluating BHT-3009 in patients with multiple sclerosis, we observed a good safety profile, and, in a small number of patients, evidence of a long-lasting antigen-specific immuno-suppression effect,” said Mark W. Schwartz, PhD, President and CEO, Bayhill Therapeutics.
“Acknowledging success of BHT-3009, the first drug candidate from Bayhill’s antigen-specific platform, current investors paid additional funds into Bayhill to advance its second antigen-specific drug candidate, BHT-3021 for Type 1 diabetes, into Phase I/II human clinical trials,” Dr. Schwartz said. “Additionally, the Bayhill Board of Directors has appointed David Thompson to the Board. David is a 35 year Eli Lilly business development veteran who is providing strategic insights to the Bayhill management team in support of the company’s business development activities to partner drug compounds from the company’s two platform technologies.” [see David Thompson joins Bayhill board news release: http://www.bayhilltx.com/PressRelease_8.html
BHT-3009 research and clinical data was presented last week at the American Academy of Neurology in San Diego. One of two presentations was selected as one of the meeting’s “scientific program highlights,” and was among the top five percent of the research presented at this year’s meeting.
News advisory: http://www.bayhilltx.com/news_advisory.pdf
Abstract: http://www.bayhilltx.com/AAN_2006_abstract_S02_004.pdf
Investors in the company include: A.M. Pappas Life Science Ventures, Boston Life Science Venture Corp (Taiwan), CMEA Ventures, De Novo Ventures, Grand Cathay Venture Capital Company LTD (Taiwan), Latterell Venture Partners, Lilly Ventures, Montreux Equity Partners, Morgenthaler Ventures, PAC-LINK Bio Management Corp (Taiwan), (Quintiles) PharmaBio Development, Prudence Venture Investment Corp (Taiwan), U.S. Venture Partners, Vertical Group.
About Bayhill Therapeutics
Bayhill Therapeutics Inc. is a clinical-stage biotechnology company focused on developing and commercializing therapeutics that fundamentally alter the way autoimmune diseases are treated. The company has developed two therapeutic platforms with broad applicability to a range of autoimmune diseases. Bayhill’s BHT-DNA autoimmune vaccine is designed to eliminate disease-causing cells without affecting normal protective immune system cells. BHT-DNA is being studied in a recently completed Phase II trial for multiple sclerosis and a Phase I/II trial for autoimmune diabetes. Bayhill’s second therapeutic platform is an oligonucleotide; the first product candidate is in preclinical development for systemic lupus erythematosus.
More information about Bayhill Therapeutics is available at www.bayhilltx.com.
CONTACTS
Mark W. Schwartz, Ph.D.
President, CEO, Director
Bayhill Therapeutics Inc.
650-320-2800
mschwartz@bayhilltx.com
or
CORPORATE COMMUNICATIONS CONTACT:
Lorraine Ruff
206-444-0022 office
lorraine@thinkmilestones.com
