TriMed Research, Inc. Secures €5 Million in Series A Funding
Testing of New Anti-Infective Compounds Moves Forward
June 2005: Omaha, Neb.--June 20th, 2005--TriMed Research, Inc., a company focused on the development and commercialization of proprietary therapeutic products for intestinal infections, announced today the closing of Series A financing round for a total of €5 million. The investors in this round are inventages venture capital investments, Inc., and Seroba Bioventures of Ireland. Commensurate with this funding, Erich Sieber of inventages and Alan O’Connell of Seroba join the Board of Directors for TriMed Research. The Series A funding will be used for the development of a family of proteins designated as MAA, and the initiation of clinical trials.
TriMed Research is a joint venture of the University of Nebraska Medical Center, UNeMed Corporation and Tridelta Development, Ltd based in Ireland. TriMed Research’s mission is to research and commercially develop therapeutic products, primarily related to the company’s patented discovery of the mammary gland protein designated as MAA. Synthetic versions of the MAA proteins have been shown to be bioactive and able to initiate protective processes in the intestine that may significantly reduce bacterial and viral infections in humans and animals. This discovery has a wide variety of applications including the prevention of life-threatening infections of infants, reduction of the incidence of farm animal infections, reduction of the debilitating side-effects of cancer treatments and even the prevention of infections in immuno suppressed patients.
"We are delighted to be an investor in TriMed. MAA, a naturally occurring milk derived protein, offers the potential to become an effective oral prophylactic treatment for the prevention of gastrointestinal diseases with a wide range of applications in humans and animals," said Erich Sieber of inventages.
Alan O’Connell of Seroba said, "I am excited by TriMed’s MAA technology and by the future potential of TriMed’s research collaboration with The Alimentary Pharmabiotic Centre in Cork, a leading gastrointestinal research institute."
"This financing will support the next phase of development by allowing us to extend our laboratory findings and enter the clinic," according to Dr. David Winter, chief executive officer of TriMed Research. "MAA represents an opportunity for the development and introduction of a new class of anti-infective compounds. Unlike antibiotics, MAA does not have the potential of resistance development and does not fall under the constraints of veterinary use of antibiotic therapy."
About inventages
inventages venture capital investments Inc. is a fund management company specializing in life sciences. The company has business offices in Nassau, Bahamas, Geneva, Switzerland, and Auckland, New Zealand and it currently manages four funds with a total asset value exceeding €400 million. inventages pursues attractive investment opportunities worldwide and takes lead or co-lead positions in investment rounds ranging from €2 million to €30 million.
www.inventages.com
About Seroba Bioventures
Seroba Bioventures is the manager of The Irish BioSciences Venture Capital Fund, Ireland’s first venture capital fund exclusively dedicated to the life science and medical technologies sectors on the island of Ireland. Seroba provides support to promising start-up and early-stage lifescience and medical technology companies arising from leading Irish research institutes, universities, research hospitals and existing companies.
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