Home Funding Priothera got €30m investment for clinical trials of AKL therapies

Priothera got €30m investment for clinical trials of AKL therapies

Priothera got €30m investment for clinical trials of AKL therapies

The clinical-stage healthcare company Priothera announced on 12th October 2020 about closing its Series A funding round at €30m. The round was led by Fountain Healthcare Partners with the participation of co-lead VC HealthCap and funds managed by investors Earlybird Venture Capital and Tekla Management

Priothera is a clinical-stage enterprise that develops receptor modulator, orally applied sphingosine 1 phosphate for hematological malignancies. This is a type of cancer that starts in these cells and is subdivided by the kind of blood cell affected. The enterprise intends to use this funding for carrying on the development of Mocravimod. It is a modulator of sphingosine 1 phosphate receptors and enhances the curing potential of allogeneic HSCT (Hematologic Stem Cell Transplantation) for the treatment of Acute Myeloid Leukemia. With this funding, they are expecting to collect more clinical data about high-risk AML patients. 

The Sphingosine 1 phosphate receptor

Sphingosine 1 phosphate receptor agonist Mocravimod has already been under several extensive tests for immunologic indications and has shown survival advantages for the AML (Acute Myeloid Leukemia) ALL (Acute Lymphocytic Leukemia) patients who were undergoing HSCT in earlier clinical studies. The receptor Mocravimod was originally developed by Kyorin Pharmaceutical and was later acquired by Priothera.

With this closing round of funding, several new names have been added to the board of directors of the company. These include Florent Gros (Co-founder and CEO of Priothera), Dr. Dhaval Patel (Co-Founder of Priothera and CSO at UCB), Dr. Mårten Steen (HealthCap Partner), Dr. Manus Rogan (Co-Founder and Managing Director of Fountain Healthcare Partners), Lionel Carnot (EarlyBird Partner) and Dr. Henry Skinner (Tekla Capital Management Senior VP). 

The Co-Founder of Priothera, Dr. Dhaval Patel, stated that Mocravimod is an exceptional and well-characterized S1P modulator and perfectly suits commercial manufacturing and clinical development. And as the clinical results, to date say, it has the right potential best available therapy for lowering the mortality and morbidity of HSCT for Acute Lymphocytic Leukemia. Dr. Dhaval Patel has earlier led Transplantation and Inflammation Disease Area’s Research Europe and the Autoimmunity at Novartis. He is renowned for his successful development of another modulator of S1P. 

The Dublin headquartered, Priothera, was founded in 2020 by Dr. Dhaval Patel and Dr. Florent Gros. The company is leading its path towards the development of receptor modulators S1P for Hematological malignancies. The sphingosine 1 phosphate receptors have the potential to reduce T cell egress from the lymphatic tissues, thereby allowing dual inhibition of GvHD (Graft-Versus-Host-Disease) and improving the benefits of graft-versus-leukemia in patients who are receiving allogeneic stem cell transplant. 

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