Endevica Bio, a company developing peptide drug candidates with improved safety and efficacy properties, has closed a $10 million Series B funding round.
The company will use the proceeds from the financing for continuing the research and development of TCMBO7 for the treatment of cachexia, as well as for working capital or other general corporate purposes.
Cachexia is a life-threatening aspect to many diseases, including cancer.
Symptoms include lack of appetite and a loss of muscle disproportionate to the reduction in caloric intake.
Russell Potterfield, CEO and Executive Chairman of Endevica, said:
“We have never been more encouraged about the future of our company and the research it is doing to treat those suffering from cachexia.
“We look forward to the release of results from the Multiple Ascending Dose (MAD) arm of the Phase 1 study that was completed the end of December.”
Individuals suffering from cachexia often have a more difficult time doing day-to-day tasks, fatigue, a reduced quality of life and reduced survival.
In advanced cases, the condition can lead to multi-organ failure due to high metabolic rate-induced apoptosis.
According to the American Society of Clinical Oncology, cachexia is highly prevalent across malignancies and impacts approximately half of patients with advanced cancer.
“This funding will enable us to advance our research and development of TCMB07, which we believe has the potential to address a macro-scale patient population with cachexia, a condition that worsens health outcomes of patients with many chronic illnesses, not only cancer.
“As we add to our scientific team over the next few months, we look forward to advancing the clinical development of TCMB07, achieving additional milestones, and helping the millions of people suffering with cachexia.”