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Nohla Therapeutics Announces Closing of $45 Million Series B Financing
Proceeds to Support the Development of Dilanubicel (NLA101) and Additional Platform Programs
SEATTLE, May 15, 2018 (GLOBE NEWSWIRE) -- Nohla Therapeutics, a leading developer of universal, off-the-shelf cell therapies for patients with hematologic malignances and other critical diseases, today announced the closing of a $45 million Series B financing. In this round, Fidelity Management and Research Company and Celgene Corporation (Nasdaq:CELG) joined existing investors, ARCH Venture Partners, 5AM Ventures, Alexandria Venture Investments and AML Biotech Partners, who also participated in the financing.
Nohla intends to use the proceeds to complete the ongoing Phase 2 trials of its lead candidate, dilanubicel (NLA101), in allogeneic transplant and chemotherapy-induced myelosuppression, as well as support Phase 3 trial and commercial manufacturing needs. Proceeds will also be used to advance the company’s novel cell-based therapy platform and pipeline.
"The financing announced today allows us to build on the progress we are making in advancing our lead clinical product, dilanubicel, toward potential regulatory approvals in multiple regions,” said Katie Fanning, President and Chief Executive Officer of Nohla. “The additional funding will also fuel further research of our other off-the-shelf discovery programs in support of our mission to provide meaningful therapies to patients with significant unmet needs.”
Dilanubicel is a universal, off-the-shelf stem and progenitor cell therapy designed to provide short-term bone marrow function, while also providing long term immunologic benefits with the potential for improved survival. Dilanubicel is currently the subject of two ongoing Phase 2 trials for patients with hematologic malignancies undergoing an allogeneic transplant, and acute myeloid leukemia (AML) patients with chemotherapy-induced myelosuppression following high-dose chemotherapy.
About Nohla Therapeutics
Nohla Therapeutics is a leading developer of off-the shelf cell therapies for the treatment of cancer and other critical diseases. Nohla’s proprietary notch ligand technology platform serves as the foundation for its ongoing clinical, preclinical and discovery programs. The company’s lead product candidate, dilanubicel, is currently being evaluated in two ongoing Phase 2 trials for patients with hematologic malignancies undergoing a myeloablative allogeneic transplant, and acute myeloid leukemia (AML) patients with chemotherapy-induced myelosuppression following high-dose chemotherapy. Nohla is also pursuing multiple preclinical and discovery programs in the areas of immune tolerance and other diseases. More information is available at www.nohlatherapeutics.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Senior Director, Corporate Development & Investor Relations