Medford, Mass. (PRWEB) March 07, 2012
4s3 Bioscience, Inc. (4s3), a privately-held biotherapeutics company focused on developing genetic disease therapies for orphan neuromuscular disorders announced today the closing of a $20 million Series A financing with KLP Enterprises, LLC (KLP).
KLP’s subsidiary, Alopexx Enterprises, LLC (Alopexx), will work with 4s3 to build and manage the company. The funding will be used to support the continued development of a proprietary antibody technology that provides targeted and active intracellular delivery of active proteins, enzymes and other macromolecules to skeletal muscle. This technology allows for the replacement of deficient proteins to skeletal muscle. Application of the 4s3 technology holds promise for the treatment of the underlying causes of muscular dystrophies, myopathies, motor neuron diseases, disease of the neuromuscular junction and various enzyme deficiency disorders. Financial details of the transaction are not being disclosed.
“We are excited to be working with 4s3,” said Dr. Daniel Vlock, CEO and Founder of Alopexx. “We are very impressed with the broad applicability of 4s3’s antibody technology and its robust intellectual property portfolio. The in vivo preclinical data validate the potential for this approach.”
“We are extremely pleased to have received this financing,” said Timothy Harris, President and CEO of 4s3. “A major obstacle to the treatment of genetic neuromuscular diseases is the challenge of delivering functional macromolecules to skeletal muscle tissue. Our approach is directly applicable to the treatment of numerous dystrophies, including Myotubular Myopathy and Myotonic Dystrophy.” Dustin Armstrong, Ph.D., vice president of Research at 4s3, added: “This funding will greatly enhance our ability to accelerate therapeutic advancements for these unmet medical needs.”
About 4s3 Bioscience, Inc.
4s3 Bioscience is an emerging Boston-area biotechnology company, focused on developing genetic disease therapies for orphan neuromuscular disorders. The company’s platform is an antibody-based system capable of enhanced intracellular delivery of active proteins, enzymes and other macromolecules to skeletal muscle. 4s3 was founded in 2007 by Vice President of Research, Dustin Armstrong, Ph.D. and President and CEO, Timothy Harris and received seed funding from Genzyme Ventures in 2008. The company has strong intellectual property protecting its platform, including a licensed portfolio from UCLA. In addition to the Series A financing, the company has received prior funding from the following organizations: Massachusetts Life Science Center, the Muscular Dystrophy Association, National Institute of Health, and the HHS Therapeutic Discovery Project. 4s3 occupies laboratory space at the UMass Boston Venture Development Center.
For more information please go to http://www.4s3bioscience.com
About KLP Enterprises, LLC
KLP is a trust formed by the Pritzker/Vlock family office. The Pritzker/Vlock family office is managed by Karen Pritzker and Michael Vlock. This enterprise owns and manages a broad portfolio of public equities, consumer, biotech, industrial, medical equipment and technology businesses, several seed capital and venture funds, real estate, and has substantial private equity ownership of Global Hyatt Corporation, TransUnion LLC, Triton Container International Corporation and the Marmon Group.
About Alopexx Enterprises, LLC
Alopexx Enterprises, LLC is a healthcare company focused on investing and developing preclinical and early clinical compounds, with an emphasis on infectious diseases, oncology, CNS and orphan diseases. It was founded in 2011 by highly-experienced pharmaceutical executives and leverages the unique insights and experiences of its founders and world-class scientific advisors. Beyond the financial investment, the group is able to offer hands-on expertise in preclinical development, manufacturing, regulatory affairs, logistics, clinical development and partnering. For more information please go to http://www.alopexx.com
4s3 Bioscience, Inc.
43 Riverside Ave. #4,