Business Wire

Knopp Biosciences Completes Class C Financing and Elects David Adair to Board of Managers

Share

Knopp Biosciences LLC today announced that it had completed a Class C equity financing of approximately $14 million led by Solas BioVentures, whose managing director, C. David Adair, M.D., was elected to the Knopp Board of Managers.

The Class C closing follows an equity financing of $13 million closed in 2019. Knopp is directing capital to a Phase 2 trial of oral dexpramipexole in moderate-to-severe eosinophilic asthma, with topline data expected in 1Q of 2021. Proceeds are also directed to the initiation of first-in-human studies in 2021 of KB-3061, a potential precision medicine treatment for a profound disease of infants and children, KCNQ2 epileptic encephalopathy.

“Knopp is excited to enter 2021 well-positioned to complete our Phase 2 dexpramipexole asthma trial and to initiate IND-enabling studies and Phase 1 trials of KB-3061,” said Michael Bozik, M.D., president and CEO of Knopp. “We’re grateful for the capital and commitment Solas BioVentures brings to our team and the expertise and experience that Dave Adair brings to our Board of Managers.”

With a two-decade track record as an accomplished venture investor, Dr. Adair was a founding member in 2014 of Solas BioVentures, which invests in life-changing therapeutics and medical device companies. He is Board certified in maternal-fetal medicine, obstetrics and gynecology, and hypertension, with special expertise in critical care, and recently retired as Professor and Vice Chair of Obstetrics and Gynecology at the University of Tennessee College of Medicine. Dr. Adair earned his medical degree from the Joan C. Edwards College of Medicine at Marshall University and completed his residency at the University of Florida Health Science Center and his fellowship training at Wake Forest University. He holds an MBA from the University Tennessee Chattanooga.

“I’m pleased to join the Knopp team as it enters a pivotal year of milestone attainment,” Dr. Adair said. “Our investing philosophy at Solas BioVentures fits squarely within Knopp’s emphasis on unmet medical need, breakthrough technology, and leadership tenacity.”

Knopp's epilepsy and neuroscience research is supported in part under Award Number U44NS093160 and Award Number U44NS115732 of the National Institute of Neurological Disorders and Stroke of the National Institutes of Health (NIH). The content of this announcement is solely the responsibility of Knopp and does not necessarily represent the views of the NIH.

ABOUT KNOPP BIOSCIENCES LLC

Knopp Biosciences is a privately held drug discovery and development company focused on delivering breakthrough treatments for immunological and neurological diseases of high unmet need. Knopp’s clinical-stage oral small molecule, dexpramipexole, is in Phase 2 clinical trials in moderate-to-severe eosinophilic asthma. Knopp’s preclinical Kv7 platform is directed to small molecule treatments for developmental and epileptic encephalopathies, other rare epilepsies, neuropathic pain, and tinnitus. Please visit www.knoppbio.com.

ABOUT SOLAS BIOVENTURES

Solas BioVentures is a venture capital firm that invests exclusively in the life science industry, focusing on early and development-stage biotech, medtech, and diagnostics. Solas is headquartered in Chattanooga, Tennessee. Please visit www.solasbio.com.

This press release contains "forward-looking statements," including statements relating to planned regulatory filings and clinical development programs. All forward-looking statements are based on management's current assumptions and expectations and involve risks, uncertainties and other important factors, specifically including the uncertainties inherent in clinical trials and product development programs, the availability of funding to support continued research and studies, the availability or potential availability of alternative therapies or treatments, the availability of patent protection for the discoveries and strategic alliances, as well as additional factors that may cause Knopp's actual results to differ from our expectations. There can be no assurance that any investigational drug product will be successfully developed or manufactured or that final results of clinical studies will be supportive of regulatory approvals required to market a product. Knopp undertakes no obligation to update or revise any such forward-looking statements, whether as a result of new information, future events, or otherwise.

Knopp's pipeline consists of investigational drug products that have not been approved by the U.S. Food and Drug Administration. These investigational drug products are still undergoing pre-clinical or clinical study to verify their safety and effectiveness.

Contact information

Media inquiries:
Tom Petzinger
tom@knoppbio.com
412-488-1776

About Business Wire

Business Wire
Business Wire



Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Pudu Robotics Announces Newly Released Puductor2 to Improve Public Health Safety29.11.2020 08:07:00 CETPress release

Pudo Robotics announced today the release of Puductor2, a technology-based, anti-pandemic robot. This newly designed intelligent robot has two disinfection modes of ultra-dry mist and UV-C ultraviolet ray, featuring large domain of walk, long detection distance, high positioning accuracy, and stronger environmental adaptability. Puductor2 further expands its scope of application while enhancing its disinfection and killing ability, to include such locations as government halls, schools, medical institutions, waiting rooms, airports, subways, banks and other public places. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201128005104/en/ (Photo: Business Wire) According to the BBC news, the coronavirus bounced back in late October in European countries. In 10 days, the cumulative confirmed cases in the 53 European member states of the World Health Organization (WHO) have soared from 6 million to more than 7 million. Against the

Luxembourg to Start Real Life Testing of an International Standard for a Digital Circularity Fingerprint for Products27.11.2020 12:00:00 CETPress release

The Ministry of the Economy of Luxembourg just launched phase two of the development of an international standard. It provides information on the circularity of products to all stakeholders involved along their value chains. A first viable version of the standard is being tested in real life, allowing to identify the most suitable governance model, the audit scheme and reliable IT systems for its management. Luxembourg started the Circularity Dataset Initiative in 2018 to address the difficulty for industry and consumers to access reliable data on the circular properties of a product. A lot of circularity information is missing, as its generation and handling requires too many human and financial resources. Furthermore, trade secrets are hindering transparency and reporting standards are lacking, forcing manufacturers to send out different data sets in diverse formats to customers and product platforms. To tackle these challenges, the Luxembourg government is working with multinational

Chengdu Continues to Enhance Trade Links and Cultural Exchanges to Expand Circle of Friends Around the World27.11.2020 10:24:00 CETPress release

The Chengdu-Europe railway line spans over 10,000 kilometers across countless rivers and mountains, transporting goods to vast numbers of people across the Eurasian landmass. With increased trade, cultural links between Chengdu and Europe are also growing stronger. Against this backdrop, Chengdu-Eurasia National Pavilion Cluster (CENPC) has emerged in the Qingbaijiang District of Chengdu to further promote trade and cultural exchanges. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201127005270/en/ Head of CENPC’s pavilion for France and the Netherlands Xu Dandan at work (Photo: Business Wire) CENPC is an important platform for trade exhibition and cultural exchange between countries along the Belt and Road. With trade promotion as a foundation, the project, which is expected to feature over 40 national pavilions, aims to deepen Sichuan’s global cooperation in fields such as culture, talent, education, and science and techno

Chengdu-Europe Railway Adds Momentum to Chengdu's Rise as an International Hub, Leading to Closer Cooperation Between Chengdu and Tilburg27.11.2020 10:14:00 CETPress release

Chengdu in China's Sichuan Province and Tilburg in The Netherlands, the two cities at the opposite ends of the Eurasian landmass, are now closely connected via an intercontinental railway that spans nearly 11,000 kilometers. In a recent interview with Xinhuanet, Roland Verbraak, general manager of GVT Group of Logistics - the Dutch partner of the Chengdu-Europe Railway, praised: "Not only are our relationships with Chinese partners getting closer, but the two cities of Chengdu and Tilburg have also become sister cities. Chengdu's international development is progressing well at a rapid pace." This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201127005267/en/ Roland Verbraak, general manager of GVT Group of Logistics (Photo: Business Wire) Goods shuttling along the Chengdu-Europe Railway line have not only spurred economic growth in China and The Netherlands but also deepened links between Chengdu and places along the route, add

REPLY: Reply enters into eSports27.11.2020 09:00:00 CETPress release

Reply, on the eve of Milan Games Week, announces its entry into eSports in collaboration with Totem eSports, a project born in 2019 that spent the year battling its way through the most competitive titles of the main ESL circuits, which for the 2021 season will be renamed Reply Totem eSports. The Reply Totem eSports team, thanks to the experience gained by its young talents at national and international level, will compete in the next season in the ESL EVC circuits on the mobile titles including Clash Royale, Brawl Stars and on a series of other titles, ranging from sports such as FIFA to FPS and strategic cards. Reply's entry into eSports is part of a wider range of initiatives aimed at supporting young technology enthusiasts. With this collaboration, Reply, which already operates in the gaming sector with Game Studio and B2B initiatives, enters a market in continuous growth, that symbolizes the impact of digitalization in all sectors. Filippo Rizzante, Reply's CTO, commented: "The eS

Vertex Announces European Commission Approval for SYMKEVI ® (tezacaftor/ivacaftor) With KALYDECO ® (ivacaftor) for Eligible Children With Cystic Fibrosis Ages 6-11 Years27.11.2020 09:00:00 CETPress release

Vertex Pharmaceuticals Incorporated (Nasdaq: VRTX) today announced that the European Commission has granted approval of the label extension for SYMKEVI® (tezacaftor/ivacaftor) with KALYDECO® (ivacaftor), to include the treatment of cystic fibrosis (CF) in patients ages 6 years and older who have two copies of the F508del mutation in the cystic fibrosis transmembrane conductance regulator (CFTR) gene or one copy of the F508del mutation and one copy of one of 14 mutations in the CFTR gene that result in residual CFTR activity: P67L, R117C, L206W, R352Q, A455E, D579G, 711+3A→G, S945L, S977F, R1070W, D1152H, 2789+5G→A, 3272-26A→G, and 3849+10kbC→T. “With this approval, children with CF in Europe ages 6 to 11 years with the most common mutation, F508del, have a new treatment option and children with certain residual function mutations will, for the first time, have a treatment option available that addresses the underlying cause of their CF,” said Reshma Kewalramani, M.D., Chief Executive O

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom