Knopp Biosciences Completes Class C Financing and Elects David Adair to Board of Managers
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.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
About 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
Logitech Delivers Strong Start to Fiscal Year 202227.7.2021 03:00:00 CEST | Press release
SIX Swiss Exchange Ad hoc announcement pursuant to Art. 53 LR — Logitech International (SIX: LOGN) (Nasdaq: LOGI) today announced financial results for the first quarter of Fiscal Year 2022. Q1 sales were $1.31 billion, up 66 percent in US dollars and 58 percent in constant currency, compared to Q1 of the prior year. Q1 GAAP operating income grew 143 percent to $203 million, compared to $83 million in the same quarter a year ago. Q1 GAAP earnings per share (EPS) grew 160 percent to $1.09, compared to $0.42 in the same quarter a year ago. Q1 non-GAAP operating income grew 100 percent to $235 million, compared to $117 million in the same quarter a year ago. Q1 non-GAAP EPS grew 91 percent to $1.22, compared to $0.64 in the same quarter a year ago. “We’ve started strong in Fiscal Year 2022, with Q1 sales up 58% in constant currency and profits doubling versus last year,” said Bracken Darrell, Logitech president and chief executive officer. “Our key categories grew high double digits. This
Adagio Therapeutics Partners with Biocon Biologics to Bring Potent and Broadly Neutralizing COVID-19 Antibody Treatment to Patients in India and Select Emerging Markets26.7.2021 22:05:00 CEST | Press release
Adagio Therapeutics, Inc., a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of antibody-based solutions for infectious diseases with pandemic potential, today announced a partnership agreement with Biocon Biologics Ltd., to combat the ongoing COVID-19 crisis in southern Asia. Biocon Biologics Ltd. is a fully integrated biosimilars company and a subsidiary of Biocon Ltd., a global biopharmaceuticals company, (BSE code: 532523, NSE: BIOCON). Under the terms of the agreement, Adagio will provide Biocon with materials and know-how to manufacture and commercialize an antibody treatment based on ADG20 in India and additional select emerging markets. ADG20, Adagio’s lead product candidate, is designed to be a potent, long-acting and broadly neutralizing antibody for both the treatment and prevention of COVID-19 as either a single or combination agent. Unlike other antibody-based therapies specifically targeting SARS-CoV-2, ADG20 has demons
SpeeDx Launch Solution for SARS-CoV-2 Variant Analysis26.7.2021 18:40:00 CEST | Press release
SpeeDx Pty. Ltd., a developer of innovative molecular diagnostic solutions, have launched a new product line of research reagents to support reflex variant analysis for circulating SARS-CoV-2 variants of concern (VOC). The rapid development of PlexPrime® SARS-CoV-2 Genotyping* tests will support investigations and monitoring of the range of emerging and circulating SARS-CoV-2 VOC that have been linked to increased transmissibility, reduced vaccine efficacy, or other characteristics that may require specific public health actions.1 This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210726005313/en/ SpeeDx unique technology excels in mutation detection applications and can readily be applied to variants reported in the SARS-CoV-2 sequence databases. Compatible with standard qPCR instrumentation, the PlexPrime® SARS-CoV-2 Genotyping research reagents can reduce the manual process of preparing positive samples for sequence analysis
V-Square Appoints Erik Norland as Head of Distribution26.7.2021 17:00:00 CEST | Press release
V-Square Quantitative Management (V-Square) has announced the hiring of Erik Norland as its Head of Distribution. A 20-year industry veteran with asset management, custody, and global markets expertise, Erik’s addition to the team bolsters our strong client-centric approach to deliver customized ESG solutions as we continue to build our reputation as a specialized global asset manager. He will lead the firm's sales, consultant relationship and client service functions across institutional, insurance and wholesale. Mr. Norland, based in Stockholm, will report to Mamadou-Abou Sarr, co-founder and President and will join the global leadership team. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210726005571/en/ Erik Norland, Head of Distribution (Photo: Business Wire) "Erik is a results-focused leader who brings excellent experience in distribution strategy and execution, sales management and client relationship roles. I had th
Private and Public Sector Join Forces Under the Umbrella of the kENUP Foundation: BioNTech Announces Project to Develop the First mRNA-Based Prophylactic Malaria vaccine, and the set-up of Manufacturing Infrastructures in Africa26.7.2021 16:10:00 CEST | Press release
Today, BioNTech SE (“BioNTech”) announced the start of its Malaria project which aims at the development of a safe and highly effective malaria vaccine and the implementation of sustainable vaccine supply solutions on the African continent. The company’s project is part of a programme by the kENUP Foundation to accelerating the eradication of Malaria. This goal was out of reach so far, despite enormous financial and public health efforts of the global community. The scientific and entrepreneurial progress made during the COVID-19 pandemic raise hopes that a highly efficacious vaccine could soon help to eradicate Malaria. BioNTech aims to develop a safe and highly effective mRNA vaccine with durable protective immunity for prevention of malaria and disease associated mortality. To this end, BioNTech will assess multiple vaccine candidates featuring known Malaria targets such as the circumsporozoite protein (CSP), as well as new antigens discovered in the pre-clinical research phase. The
PPG to Expand Production Capacity for PPG ISENSE Gloss Beverage Can Coatings at Delaware, Ohio, Plant26.7.2021 15:02:00 CEST | Press release
PPG (NYSE:PPG) today announced that it is currently adding capacity for the production of overvarnish coatings for beverage can exteriors, including PPG ISENSE™ Gloss coatings, at its Delaware, Ohio, plant. PPG expects the addition of the Delaware plant’s new volume to existing overvarnish capacity at its Oak Creek, Wisconsin, packaging coatings facility will increase the company’s overall production of overvarnish coatings in the U.S. by 40%. “Beverage can manufacturers around the world are facing unprecedented demand for their products,” said Todd White, PPG general manager, U.S. and Canada, and global strategic accounts, packaging coatings. “With this added capacity, we are committed to helping them meet that demand while adding more security to their supply chain for beverage can coatings.” In addition to increasing supply chain security for its customers and the packaging industry, the Delaware plant will provide in-line analytical capabilities for enhanced batch consistency. “PPG
NET ZERO Leaders Summit (Japan Business Conference 2021) - Online Event From Wednesday, July 28 : Latest Information26.7.2021 15:00:00 CEST | Press release
Japan’s Ministry of Economy, Trade and Industry (METI) and the Japan External Trade Organization (JETRO) are pleased to announce the jointly organized “NET ZERO Leaders Summit (Japan Business Conference 2021)” to accelerate innovation in green investment and the realization of carbon neutrality. The event will take place from Wednesday, July 28, and will be held online. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210726005389/en/ Entrance_Lobby_Image (Graphic: Business Wire) Main Program In the main program, panel discussions will be held between 15 leaders of global companies and organizations. In addition, Mr. SASAKI Nobuhiko, Chairman and CEO of the Japan External Trade Organization (JETRO), will present the opening remarks, Mr. TOKURA Masakazu, Chairman of KEIDANREN (Japan Business Federation), will present the keynote speech and Prime Minister SUGA Yoshihide and Minister of Economy, Trade and Industry KAJIYAMA Hirosh
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