Edimer Pharma gets US $18 mln funding to develop pioneer drug
Edimer Pharmaceuticals announced on Tuesday that it secured US $18 million in second round funding led by New Enterprise Associates (NEA) and Sanofi-Genzyme BioVentures. The company will use the money to further develop and commercialize EDI2000, which is already in clinical testing stage. If all goes well, Edimer's product will be able to treat XLHED condition.
In this regard, the company is now trying to find eager parents to volunteer their male children with XLHED to test out the efficacy of the product.
Neil Kirby, President of Edimer, said that both Sanofi-Genzyme and NEA have a track record of helping companies that are trying to find cures for very rare diseases. "We are thrilled to add NEA and Sanofi-Genzyme BioVentures to our investors," he said.
David Mott, General Partner at NEA, said the new capital will help Edimer to immediately start with the clinical trials to treat and then cure the affected newborns.
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