Circassia raises GBP15M for development of its novel allergy T-cell vaccines portfolio

Dec 11 2009

- Funding to Progress ToleroMune(R) T-cell Allergy Vaccines Into Late-Stage Development

Circassia Ltd, a specialty biopharmaceutical company focused on allergy, today announced that it has completed a GBP15 million ($25 million) fundraising. The investment round, which was led by Imperial Innovations and supported by existing shareholders including Invesco Perpetual and Lansdowne Partners, was significantly oversubscribed and is the company's third successful fundraising. The investment follows recently announced positive phase II results with Circassia's ToleroMune(R) cat allergy T-cell vaccine. The financing will support the acceleration of the programme into late-stage development and advance the clinical development of Circassia's broader portfolio of novel allergy T-cell vaccines.

"The success of this funding round is a great vote of confidence in Circassia's unique allergy T-cell vaccine technology and the dedication of our team," said Steve Harris, Circassia's CEO. "Our most recent clinical results clearly demonstrate the potential of our ToleroMune(R) technology, as well as scientifically validating our novel use of T-cell vaccines to improve the treatment of allergy sufferers. This new investment recognises the importance of these results, and represents a strategic milestone in the development of Circassia's next generation allergy treatments."