Immusoft Corporation, which is a Seattle-Washington based cell therapy company, held the final closing in its $20 Million in the funding round of Series B.
The investors include the Alexandria Venture Investments, RBV Capital, Breakout Ventures, DEFTA Partners, and Mesa Verde Venture Partners.
The company as of now has a plans to use the funds t advance the ISP-001 with the Phase I/II clinical development and to develop the additional pipeline candidates that use its proprietary Immune System programming approach to the B cell modification.
The company which is operated and led by the Sean Ainsworth. Immusoft arms to treat the diseases with its latest technology called the Immune System Programming which even modifies a patient B cells and instructs the cells to produce the gene encoded medicines. The B cells that are reprogrammed with the help of ISP become the miniature drug factories that are also expected to survive in the patients for many years.
The company as of now is also working on advancing the ISP-001, which even incorporates its Sleeping Beauty transposon engineered autologous B cells for the delivery and expression of the alpha L-iduronidase to treat with the Mucopolysaccharidosis type I.
The application of the Immusoft ISP platform is nowadays being further advanced with the recent $3.5 Million SBIR grant the company received to support the development of the sustained protein delivery across the entire blood-brain barrier, directly to the brain and the central nervous system.
“Throughout 2018, the Immusoft team made extraordinary progress advancing our ISP platform. This is highlighted by our lead candidate, ISP-001, receiving both orphan drug and rare pediatric disease designations from the FDA,” commented Sean Ainsworth, Chief Executive Officer of Immusoft. “With the closing of our Series B financing, we believe we are now strongly positioned to advance this novel approach for treating MPS I patients through Phase I/II clinical development with the goal of generating initial safety and potential efficacy data during 2019.”
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