JADO Technologies GmbH, a Dresden, Germany-based developer of RAFT intervention therapeutics, has raised €3.9 million in Series B funding. Peppermint Financial Partners led the round, and was joined by NRW.Bank and return backers Dresden Fonds GmbH, EMBL Ventures, KfW (ERP-Startfonds), Max Planck Society and MASA Life Science Ventures.
JADO Technologies GmbH, the leading developer of RAFT intervention therapeutics, announced today that it has raised EUR 3.9 million in a series B financing led by PEPPERMINT.Financial Partners. New investor NRW.BANK and existing investors Dresden Fonds GmbH, EMBL Ventures, KfW (ERP-Startfonds), Max Planck Society and MASA Life Science Ventures also participated in the round.
The proceeds will be used to advance two formulations of JADO’s lead clinical-stage compound, TF002, through the rest of Phase II trials in both atopic dermatitis and urticaria. Furthermore, the proceeds will be used to advance second generation allergy compounds to proof of principle in animal in asthma.
“We are convinced of the high growth potential for JADO. Our investment provides the necessary finances to establish a subsidiary in Bonn focusing on in-silico RAFT drug discovery. By starting this cooperation with the University of Bonn, the region North Rhine-Westphalia can deliver a sustainable contribution to further strengthen this revolutionary technology platform,” Ernst Gerlach, board member of NRW.BANK noted.
Concurrent with the financing, JADO has established an in-silico laboratory at the Department of Life Science Informatics, University of Bonn. The laboratory will develop an algorithm based filtering tool to screen compound libraries for new scaffolds with RAFT modulator activity. In-silico tools offer several advantages over classical approaches in identifying new scaffolds and options for intellectual property, including speed, efficiency and hit-rate. JADO believes this approach will generate new NCE classes and drug candidates during 2009.
“The continued support from investors, both new and existing, in JADO’s unique approach for finding therapeutics targeting RAFT is very encouraging, particularly in these tough funding conditions. The financing will allow us to complete Phase II clinical development of our lead compound, TF002, and take additional candidates into the preclinical stage,” stated Charl van Zyl, CEO of JADO. “We believe the RAFT mechanism is far-reaching and can be applied in several therapeutic areas. Many existing compounds have activity in lipid membrane, hence potentially against RAFT. So, we are looking not only to discover completely new molecules but also establish a library of existing compounds that we could quickly modify and enter into development.”
RAFTS are discrete sub-compartments in the lipid membrane of cells that play a central role in the complex physiological processes, such as immune response or in many pathological situations. In an infectious disease event, RAFTS are hijacked by pathogens to gain entry into cells. By blocking this process, JADO is pursuing the development of novel therapeutics.
About JADO Technologies
JADO is a leader in the emerging field of RAFT intervention therapeutics. Representing a paradigm shift in drug development, RAFT therapeutics have the potential to address multiple unmet needs, particularly in allergy, infectious diseases, Alzheimer’s disease and cancer.
RAFTS are sub-compartments of cell membranes that play an integral role in key biological pathways. The Company’s RAFT Intervention Technology® provides a unique platform, protected by a strong patent position, to drive significant pipeline development opportunities. JADO has leveraged its technology to generate multiple small molecule drug candidates, with its lead program in Phase IIa clinical trials for allergy indications. The Company is supported by a global network of clinical and academic experts, including JADO founders, Prof. Kai Simons, Prof. Marino Zerial, Dr. Teymuras Kurzchalia (Max-Planck Institute of Molecular Cell Biology and Genetics, Dresden) and Prof. Hans-Joachim Knölker (Technical University of Dresden). JADO is headquartered in Dresden, Germany. For more information, please visit our website: www.jado-tech.com.
NRW.BANK is the development bank of the State of North Rhine-Westphalia. Its four business segments are Promotion of Business Start-ups and SMEs, Municipal and Infrastructure Financing, Social Housing Promotion and Individual Promotion. For business start-ups and SMEs in North Rhine-Westphalia, NRW.BANK uses customised public promotion and equity finance products. The Bank aims to constantly improve the financing situation of this target group in line with actual requirements.