PALO ALTO, Calif.--(BUSINESS WIRE)--April 11, 2006--Bayhill Therapeutics Inc. has begun dosing patients with BHT-3009, the company’s experimental drug candidate, in a Phase II company sponsored trial for multiple sclerosis. The Phase II study is a multi-center, double-blind, placebo-controlled evaluation with an MRI endpoint. In a related development, current investors indicated strong support for Bayhill’s antigen-specific tolerance platform by raising an additional $15.8 million in private equity. The company has now closed its Series B round totaling $51.2 million.
“In a Phase I/II trial evaluating BHT-3009 in patients with multiple sclerosis, we observed a good safety profile, and, in a small number of patients, evidence of a long-lasting antigen-specific immuno-suppression effect,” said Mark W. Schwartz, PhD, President and CEO, Bayhill Therapeutics.
“Acknowledging success of BHT-3009, the first drug candidate from Bayhill’s antigen-specific platform, current investors paid additional funds into Bayhill to advance its second antigen-specific drug candidate, BHT-3021 for Type 1 diabetes, into Phase I/II human clinical trials,” Dr. Schwartz said. “Additionally, the Bayhill Board of Directors has appointed David Thompson to the Board. David is a 35 year Eli Lilly business development veteran who is providing strategic insights to the Bayhill management team in support of the company’s business development activities to partner drug compounds from the company’s two platform technologies.” (see David Thompson joins Bayhill board news release: http://www.bayhilltx.com/PressRelease_8.html)
BHT-3009 research and clinical data was presented last week at the American Academy of Neurology in San Diego. One of two presentations was selected as one of the meeting’s “scientific program highlights,” and was among the top five percent of the research presented at this year’s meeting: News advisory: http://www.bayhilltherapeutics.com/news_advisory.pdf; Abstract: http://www.bayhilltherapeutics.com/AAN_2006_abstract_S02_004.pdf.
Investors in the company include: A.M. Pappas Life Science Ventures, Boston Life Science Venture Corp (Taiwan), CMEA Ventures, De Novo Ventures, Grand Cathay Venture Capital Company LTD (Taiwan), Latterell Venture Partners, Lilly Ventures, Montreux Equity Partners, Morgenthaler Ventures, PAC-LINK Bio Management Corp (Taiwan), (Quintiles) PharmaBio Development, Prudence Venture Investment Corp (Taiwan), U.S. Venture Partners, Vertical Group.
About Bayhill Therapeutics
Bayhill Therapeutics Inc. is focused on the translation of research into therapeutics by developing novel drugs for the treatment of autoimmune diseases. The company has established a product platform of antigen-specific therapeutics, BHT-DNA(TM), with broad potential applications in treating autoimmune diseases, including multiple sclerosis, Type 1 diabetes, and rheumatoid arthritis. In addition, Bayhill is developing a second therapeutic program, BHT-Oligo(TM), using novel oligonucleotide-based drugs for treating autoimmune diseases.
For further information, please visit: http://www.bayhilltx.com.
Contact: Bayhill Therapeutics Inc. Mark W. Schwartz, Ph.D., 650-320-2801 mwschwartz@bayhilltx.com www.bayhilltx.com or Lorraine Ruff, 206-444-0022 lorraine@thinkmilestones.com
Source: Bayhill Therapeutics Inc.
