Adrenomed closes EUR 22 million equity financing to accelerate development of Adrecizumab (HAM8101) and provides business update

DGAP-News: Adrenomed AG / Key word(s): Financing
30.11.2020 / 10:30
The issuer is solely responsible for the content of this announcement.

Adrenomed closes EUR 22 million equity financing to accelerate development of Adrecizumab (HAM8101) and provides business update

- Series E round led by existing top-tier life science investors Wellington Partners and HBM Healthcare Investments

- Data from AdrenOSS-2 on early treatment start with Adrecizumab in septic shock to be presented at DIVI, December 2-4, 2020

Hennigsdorf/Berlin (Germany), November 30, 2020 - Adrenomed AG, the vascular integrity company, today announced the successful closing of a EUR 22.2 million financing round.

EUR 22 million financing round

An internal series E venture round led by existing investors Wellington Partners and HBM Healthcare Investments raised EUR 22.2 million equity. This will provide the Company funds to complete the next stages of development for Adrenomed's lead candidate Adrecizumab (HAM8101) in septic shock, an area with very high unmet medical needs. Based on the detailed findings of the Phase II study AdrenOSS-2, which have been extensively explored over the past months, the Company is developing a personalized, biomarker-guided clinical trial strategy. Additionally, funds will be used for chemistry, manufacturing and control (CMC) and for regulatory interactions.

"We are grateful for the continued support and strong confidence of our investors in our approach to build a personalized medicine development strategy for Adrecizumab in sepsis," said Dr. Andreas Bergmann, Chief Scientific Officer of Adrenomed. "This financing will pave the way for the next important steps towards the further clinical development of our therapeutic approach to restore and maintain vascular integrity in patients with septic shock."

New AdrenOSS-2 data presented at DIVI

In topline data from the Phase II study AdrenOSS-2, Adrecizumab already has demonstrated a favorable safety profile and a significant and fast improvement of organ function, plus a substantial reduction on short-term mortality.^[1] Additional biomarker-guided data on early treatment start with Adrecizumab in septic shock patients and new efficacy data including 90 day mortality rate will now be presented at the Annual Congress of DIVI (German Interdisciplinary Association for Intensive Care and Emergency Medicine), December 2-4, 2020.

Management Changes

Dr. Jens Schneider-Mergener has stepped down as CEO of Adrenomed and the Board of Directors has identified an experienced successor who will be announced shortly.

Dr. Bernd Wegener, Chairman of Adrenomed's Supervisory Board, said: "On behalf of all Adrenomed, we are sad to say farewell to Dr. Jens Schneider-Mergener. During his time with our company, Dr. Schneider-Mergener oversaw the completion and data analysis of the AdrenOSS-2 trial as well as the preparation for the next development steps of Adrecizumab. I would like to thank Dr. Schneider-Mergener for his many contributions and wish him all the best for the future."

About Adrenomed

Adrenomed AG is a German privately financed, clinical-stage biopharmaceutical company. Adrenomed's mission is to rescue vascular integrity in order to save the lives of critically ill patients with limited treatment options. Founded in 2009 by a management team with decades of in-depth experience in sepsis and deep knowledge in diagnostics and drug development, the company's lead product candidate Adrecizumab is a first-in-class monoclonal antibody. Adrecizumab targets the vasoprotective peptide Adrenomedullin, an essential regulator of vascular integrity. Adrecizumab has successfully completed a biomarker-guided, double-blinded, placebo-controlled, randomized, multicenter proof-of-concept Phase II trial with 301 patients suffering from septic shock. For further information, please visit www.adrenomed.com and follow us on LinkedIn and Twitter.

^[1] https://adrenomed.com/positive-results-from-adrenomeds-adrenoss-2-phase-ii-trial-evaluating-adrecizumab-ham8101-in-septic-shock-presented-during-e-isicem/

30.11.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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