Nordic Biotech II K/S and MPM BioVentures close on additional $6 million
investment on top of $75 million previous investment
AMSTERDAM, Netherlands and ALAMEDA, Calif., Feb. 28 /PRNewswire/ --
Arriva Pharmaceuticals, a biopharmaceutical company focused on developing
anti- inflammatory therapies for treating respiratory diseases, completed a
financing of 6 million USD led by new Investor Nordic Biotech II K/S and
with participation by MPM BioVentures. Since its founding in 1997, Arriva
has now raised a total of 81 million USD.
"Key financing from Nordic Biotech II KS and from our earlier lead
investor, MPM Capital, allows us to continue the development of recombinant
alpha-one antitrypsin for hereditary emphysema," said Sue Preston, CEO,
Arriva Pharmaceuticals. "With a committed, experienced management team, we
are now focused on the clinical development of our lead and pipeline
products."
"We are investing in the clear value we see in Arriva's late-stage
inhaled protein rAAT, a replacement product for the treatment of hereditary
emphysema," said Florian Schonharting, partner of Nordic Biotech. "Our goal
with Arriva is to provide financing and through board participation, help
the company become a recognized, fully integrated biotech concern," added
Christian Hansen, partner of Nordic Biotech.
"MPM has been a supporter of Arriva and the company's mission since
2002," said Ansbert Gadicke, General Partner, MPM Capital. "We continue to
believe that there is significant potential in the company's respiratory
product pipeline and are involved in this financing because we anticipate
that Arriva will successfully capitalize on its IP and other assets."
About Arriva:
Arriva Pharmaceuticals is a privately held biopharmaceutical company
focused on developing anti-inflammatory therapies for treating respiratory
diseases. The company's areas of therapeutic focus are: hereditary
emphysema, chronic obstructive pulmonary disease (COPD) including
smoking-related emphysema, cystic fibrosis and other respiratory
indications. Arriva Pharmaceuticals BV, is headquartered in Amsterdam, the
Netherlands, and its majority-owned subsidiary, Arriva Pharmaceuticals,
Inc., is located in Alameda, California. For additional information please
visit: http://www.arrivapharm.com
About Nordic Biotech:
Nordic Biotech is a global operating special situations fund family,
with about 200 million USD under management. Primary focus is
pharmaceutical development companies with late stage clinical programs.
Nordic Biotech is based primarily in Copenhagen, Denmark with a presence in
Boston and San Francisco. For more information, please visit
http://www.NordicBiotech.com.
About MPM:
MPM Capital L.P. is a global investment management firm focused solely
on life sciences investing. One of the largest investment management firms
dedicated to the life sciences sector, MPM Capital has offices in Boston,
San Francisco and New York City. MPM's portfolio ranges from start-ups to
large capitalization public companies, with a primary focus on
biopharmaceutical and medical device companies nearing commercialization of
products or those companies that already offer product-driven
opportunities. The firm manages over $2.5 billion in assets through the MPM
BioVentures Family of venture capital funds and the MPM BioEquities public
market fund. More information on MPM can be found at
http://www.MPMCapital.com.
SOURCE Arriva Pharmaceuticals
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Related links:
http://www.arrivapharm.com
http://www.NordicBiotech.com http://www.MPMCapital.com
CONTACT:
Sue Preston of Arriva Pharmaceuticals,
+1-510-337-1250, spreston@arrivapharm.com; or Jennifer Larson,
+1-415-409-2729, jlarson@labfive.com, for Arriva
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