-Financing earmarked to develop potential 'best-in-class' CCR-5 receptor antagonist for treatment of HIV/AIDS- PRINCETON, N.J. and SAN DIEGO, Aug. 1 /PRNewswire/ -- TobiraTherapeutics Inc., a newly established, clinical stage biotechnologycompany, today announced the completion of a $31 million Series A financingthat was co-led by the venture capital firms Domain Associates and FrazierHealthcare Ventures. Montreux Equity Partners and Canaan Partners alsoparticipated. The company also announced that James Sapirstein, RPh MBA, has beennamed CEO and President of Tobira Therapeutics, and will lead anexperienced biotech development team including Gregory Fusco, MD (ChiefMedical Officer) and Richard Ogden, PhD (Scientific Development Advisor). Tobira Therapeutics will focus on the clinical development of noveltherapies for HIV/AIDS. The Company has entered into an exclusive licensefor technology and products developed by Takeda Pharmaceutical CompanyLimited of Osaka, Japan. Takeda has granted Tobira Therapeutics exclusiveworldwide rights to develop, manufacture and commercialize Takeda'santi-HIV clinical stage compounds TAK-220 and TAK-652. TAK-652, a potentially "best in class" drug and TAK-220 are CCR5antagonists that can be administered orally and bind to CCR5 receptors tointerfere with the entry of the HIV-1 virus into macrophages and activatedT-cells by inhibiting fusion between viral and cellular membranes. Thismechanism of action is different from those currently used for treatment ofHIV infection such as nucleoside reverse transcriptase inhibitors andprotease inhibitors. TAK-220 and TAK-652 are currently in Phase I clinicaldevelopment in the U.S. and Europe. All future development activities inthese territories will be conducted by Tobira Therapeutics. The Series A funding will enable Tobira Therapeutics to advance itslead compound, TAK-652, through Phase 2 clinical development, and it willallow development of TAK-220 as a back-up compound. "We are delighted to have the opportunity to further develop theseimportant compounds. Tobira's focus is treatment of HIV infection and welook forward to working with clinical researchers, the HIV community andother important partners to bring these compounds to market asexpeditiously as possible for the benefit of patients and their lovedones," said James Sapirstein, CEO of Tobira. "I have full confidence that the highly qualified management team ofTobira will advance the lead compound TAK-652 through clinical developmentas rapidly as possible while developing TAK-220 as a back-up compound.Drugs that target the CCR-5 receptor have the potential to dramaticallyaugment the treatment armamentarium for HIV/AIDS and it is very importantthat TAK-652, as a potential "best-in-class" CCR-5 blocker, is developed asquickly as possible for the benefit of patients with HIV infection. Themanagement team of Tobira has the track record and experience to accomplishthat," said Eckard Weber, MD, Chairman of the Board of Tobira Therapeutics,partner with Domain Associates and founder of Tobira Therapeutics. Tobira Therapeutics is based in Princeton, New Jersey. It alsomaintains an office in San Diego, California. About the Tobira Therapeutics Management Team James Sapirstein, RPh MBA, named CEO and President of TobiraTherapeutics, was formerly Executive Vice President of Metabolic andEndocrinology at Serono Inc. Previously, James had positions of increasingresponsibility at Gilead Sciences, Bristol-Myers Squibb, Hoffmann-LaRocheLtd. and Eli Lilly and Company. Mr. Sapirstein has launched severalHIV/AIDS agents worldwide during his 23 year career in the biotechnologyand pharmaceutical industry. James attained his pharmacy degree at RutgersUniversity, Ernest Mario School of Pharmacy and his Masters of BusinessAdministration at Farleigh Dickinson University. Prior to joining Tobira Therapeutics as CMO, Gregory Fusco, MD MPH, wasformerly Vice President of Late Stage Clinical Development at IncyteCorporation. Prior to Incyte, Gregory was instrumental in developinginnovative and elegant methods in a leadership role at GlaxoSmithKline andwas involved in evaluating HIV disease status and drug efficacy. Gregoryattained his MD degree at Michigan State University and also has a Master'sdegree in Public Health in Epidemiology from the University of Michigan. Richard Ogden, PhD, Scientific Development Advisor for TobiraTherapeutics, is co-founder of RORR Enterprises, a Medical, ScientificConsulting and Education Company. Prior to working with Tobira, he held theposition of Senior Director of Scientific Affairs, HIV, US Medical atPfizer Inc. Richard was one of the original employees of AgouronPharmaceuticals Inc., serving in several positions of increasingresponsibilities and lastly was Senior Director of Scientific Developmentat Agouron Pharmaceuticals, Inc. Richard holds a Ph.D. in organic Chemistryfrom Cambridge University in England. About the CCR-5 Receptor target CCR5 antagonists work by binding to CCR5 receptors and interfering withthe entry of the HIV-1 virus into macrophages and activated T-cells. Thisbinding inhibits fusion between viral and cellular membranes. Thismechanism of action is different from those currently used for treatment ofHIV infection such as nucleoside reverse transcriptase inhibitors andprotease inhibitors. About Tobira Therapeutics, Inc. Tobira Therapeutics is a private biopharmaceutical company which isfocused on developing and commercializing innovative antiviral compounds totreat HIV disease. The company was founded in 2006 by Eckard Weber, MD, apartner at the venture capital firm Domain Associates, to develop noveltreatments for HIV disease. Tobira has assembled a highly experiencedmanagement team with decades of clinical and commercial developmentexperience specifically in HIV/AIDS drug development. Contact: Tobira Therapeutics Inc. James Sapirstein, CEO and President, Tobira Therapeutics, Inc.
Tobira Therapeutics Inc. Completes $31 Million Series A Financing and Names Management Team
August 08, 2007, 1:11 a.m. EDT 5 Min Read
