Aldea Pharmaceuticals Announces Closing of $ 24M Series B financing activities

Aldea Pharmaceuticals Announces Closing of $ 24M Series B financing activities -

Aldea Pharmaceuticals, a pioneering new therapies business to treat disorders of the metabolism of aldehyde, has today announced it has closed a $ 24 million Series B equity financing. The funding included new investors RusnanoMedInvest (RMI) and WuXi PharmaTech Corporate Ventures. All previous investors, including Canaan Partners, and Correlation Ventures also participated in the round.

The funding will be used to advance the lead drug candidate, AD-6626 Aldea, in clinical trials, including the assessment of the proof of concept for the treatment of patients with acute alcohol intoxication and funding for the subsequent phase 2 trials of intravenous (IV) AD-6626 in a framework of emergency room (ER). In addition, oral Aldea studying AD-6626 for the treatment of subjects with rare genetic disease Fanconi anemia, and anticipates funding will support a study in this indication Phase 1/2 proof of biology.

Each year, millions of Americans are admitted to emergency after clinically significant acute alcohol intoxication, and an estimated 10 to 15 percent of ED visits are associated to alcohol consumption. Acute alcohol can be fatal and can lead to emergency department overcrowding, delays in the critical treatment for trauma patients and intensive use of hospital resources. Since there is no treatment available antidote for alcohol toxicity, patients with acute alcohol intoxication should expect alcohol to be metabolized to their systems before they can be removed from the courtroom, emergency.

"The use of AD-6626 in the ER setting has the potential to stabilize patients with acute alcohol and improve faster the signs and symptoms of poisoning that wait for the metabolism of alcohol, simplifying patient care. this could facilitate treatment in people with comorbidities such as trauma, as well as to benefit from the system as a whole, "noted William Yelle , CEO of Aldea. "We also have the opportunity to apply our scientific approach in the treatment of patients with Fanconi anemia, a rare genetic disease characterized by chromosomal instability, inadequate bone marrow and increased risk of cancer. the funds we obtained with this financing should allow us to generate proof of concept data in both directions. "