The company will use the investment to fund the progression of its acute kidney disease therapy through Phase II Clinical Trials over the next three years. Funds will also be used to develop a robust pipeline targeting other large medical markets where its cell therapy technology can address chronic unmet needs.
AlloCure is poised to become the first company to commercialize effective cell therapies to treat various kidney diseases, organ transplants, multi-organ injury and a number of other difficult to treat diseases. AlloCure has developed a proprietary process to manufacture cells derived from bone marrow which can be used in an allogeneic (does not require tissue matching of donor and recipient) or off-the-shelf setting. AlloCure's technology has multiple therapeutic applications which have the potential to effectively address many large medical markets. http://www.allocure.com
About SV Life Sciences
SV Life Sciences is a venture capital fund providing financing to businesses at all stages of development across the human life sciences sector, including biotechnology, pharmaceuticals, medical devices and instruments, and healthcare information technology and services. SV Life Sciences currently manages or advises five funds with capital commitments of approximately $1.6 billion. http://www.svlifesciences.com
About Novo A/B
Novo A/S is the holding company of the Novo Group, and is wholly owned
by the Novo Nordisk Foundation. Novo A/S was established in 1999 to manage
the assets of the Foundation and actively make investments on behalf of the
Foundation. The Novo Ventures team consists of six Partners in Copenhagen,
one in London and two in San Francisco. With an evergreen structure, Novo
A/S annually invests approximately $100 million in venture capital into
|SOURCE AlloCure Inc.|
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