Edimer Pharmaceuticals, a US-based biotechnology company focused on developing a therapy for the rare genetic disorder X-linked Hypohidrotic Ectodermal Dysplasia (XLHED), announced on 30 July that it had secured $18m in series B financing led by New Enterprise Associates (NEA), with additional new investor Sanofi-Genzyme BioVentures, the $100m corporate venture capital fund of France-based pharmaceutical company Sanofi and its US-based subsidiary Genzyme. Previous investors Third Rock Ventures and VI Partners also participated.
Edimer will use the proceeds to advance the later stage clinical development of EDI200, a protein for the treatment of the ultra-rare genetic disorder XLHED, also known as Christ-Siemens-Touraine Syndrome. Edimer will explore additional opportunities to leverage its expertise in ecotdysplasin biology. Edimer is currently looking for carriers of XLHED who are pregnant or thinking of expanding their families; male infants born with XLHED may be eligible to participate in the Phase 2 clinical study.
Bernard Davitian, vice president and managing director, Sanofi-Genzyme BioVentures, said: “The team at Edimer has done an impressive job advancing EDI200 as a treatment for XLHED. We look forward to working more directly with them as they progress the drug candidate through the next phase of development.”
Neil Kirby, president and chief executive officer of Edimer, said: “We are thrilled to add NEA and Sanofi-Genzyme BioVentures to our investors. Both organizations are particularly committed to helping build transformative companies dedicated to developing treatments and ultimately cures for orphan diseases. Initiation of the neonate study represents a significant accomplishment for Edimer, our scientific collaborators and the patient foundations. This collective effort and support was instrumental in achieving our success to date.”
David Mott, general partner at NEA,who will join Edimer’s Board of Directors, said: “With this financing in place, Edimer is poised to begin testing its novel therapeutic in affected newborns in the near future, and to offer the first real potential progress against this serious genetic disease.”
Board observers will be included from NEA, Third Rock Ventures, Sanofi-Genzyme and VI Partners.
Edimer was established in 2009 with investment from Third Rock Ventures and VI Partners.