Edimer secures $18m to advance orphan drug candidate

Neil Kirby. Photo taken from Edimer’s website.
Neil Kirby. Photo taken from Edimer’s website.

Cambridge biotechnology company Edimer Pharmaceuticals said it has secured $18 million in Series B financing.

The lead investor was New Enterprise Associates, with additional new investor Sanofi-Genzyme BioVentures, and previous investors Third Rock Ventures and VI Partners, the company said in a press release.

Edimer said it plans to use the proceeds from this financing to advance the later stage clinical development of EDI200, the company’s novel recombinant protein being developed for the treatment of XLHED. If approved for commercialization, EDI200 would be the first drug to treat the symptoms of this ultra-rare genetic disorder.

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Including the new Series B money, Edimer has raised $40 million to date.

XLHED, which is also known as Christ-Siemens-Touraine Syndrome, results from genetic mutations in the ectodysplasin gene. Patients affected by XLHED are at risk for life-threatening hyperthermia based on their inability to regulate body temperature, and for clinically-significant pneumonias resulting from their abnormality in respiratory secretions. In the first years of life, XLHED-affected individuals are at risk for severe medical complications, most often associated with their inability to sweat, leading to hyperthermia, and their reduced mucous secretion predisposing them to respiratory infections.

In a statement, Edimer president and chief executive Neil Kirby said: “We are thrilled to add NEA and Sanofi-Genzyme BioVentures to our investors. Both organizations are particularly committed to helping build transformative companies dedicated to developing treatments and ultimately cures for orphan diseases. Initiation of the neonate study represents a significant accomplishment for Edimer, our scientific collaborators, and the patient foundations. This collective effort and support was instrumental in achieving our success to date.”