Oxyrane raises USD49.5 Million in Series D financing

May 23, 2017 | Author: | Posted in Finance

1888PressRelease – Global Private Group has invested in Biopharmaceutical Company dedicated to the development of enzyme replacement therapies (ERT) to treat lysosomal storage diseases, a class of more than forty rare inherited diseases.

Series D financing round for the company raised USD 49.5M, Global Private Group was the sole arranger.

The current fund will enable Biopharmaceutical Company to advance its lead ERT treatment for Pompe disease from preclinical stages through to the end of phase I/II, as well as further preclinical development of other ERTs. Pompe disease (also called Glycogen storage disease type II or acid maltase deficiency) is a rare, serious disease in which acid alpha-glucosidase enzyme deficiency leads to glycogen accumulation and muscle and nerve cells damage. If untreated, the infantile form is fatal – often before one year of age – due to cardiorespiratory failure.

The Biopharmaceutical Company has developed a proprietary platform for the production of therapeutic proteins with homogenous, human sugar structures using the yeast Yarrowia lipolytica. Based on this platform, The Biopharmaceutical Company can produce human lysosomal enzymes with 3-15 times the amount of mannose 6-phosphate, the essential targeting sugar structure which facilitates effective enzyme uptake and localization, obtained in current commercial processes. The substantial enhanced levels of the natural targeting mechanism can deliver more than a 20-fold improvement in cellular uptake without altering the naturally occurring protein enzyme. Based on experience at 1,000 litre scale with its simple batch production process, The Biopharmaceutical Company believes that it can scale production up to 100,000 litres if necessary – dramatically altering the production economics of these products. Due to its proven versatility the Y. lipolytica platform not only enables robust and consistent production of lysosomal enzymes but also of a range of other human glycoproteins, including antibodies.

CEO of The Biopharmaceutical Company says: “We are pleased to have Global Private Group join existing investor New Science Ventures. Global Private Group’s reputation as respected, experienced investors will provide us with the support necessary to advance our exciting pipeline towards the clinic. The Biopharmaceutical Company is now well positioned to progress our research into clinical trials in Pompe disease in order to explore the potential benefits of our technology in people with this debilitating and potentially fatal disorder.”

Global Private Group is one of the largest and most experienced project finance groups in the world compromising more than 300 dedicated specialists in our offices worldwide who are fully qualified to provide financial services and products. Stable financing, efficient execution, expert solutions and customer service are how we help clients succeed.

Our broad range of lending products in the areas of corporate lending and investment banking, combined with access to strong capital base; allows us to execute financing that supports your business objectives. Our deal professionals’ industry expertise and attention to your goals during every step of the loan process allows us to offer solutions that help you achieve success.

http://www.globalprivategroup.com

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