Spring Bank Pharmaceuticals Completes $600,000 Angel Financing Round
MILFORD, Ma, March 2009: Spring Bank Pharmaceuticals, www.springbankpharm.com, a drug discovery company focused on developing novel drugs for the treatment of Hepatitis C & B, announced today a $600,000 Angel financing round from a private investor. This investment will fund pre-clinical development of SB9200, a potential breakthrough drug for the treatment of Hepatitis C and Hepatitis B having both direct anti-viral and immune stimulatory activities.
“Spring Bank Pharmaceuticals Hepatitis B and C program is based on our proprietary platform technology which represents a new class of pharmaceuticals we call small molecule nucleic acid hybrids “SMNH” with a wide range of applications and multi-billion dollar market potential, said Doug Jensen, CEO & President of Spring Bank. These rationally designed molecules combine the target selectivity and specificity advantages of nucleic-acid-based therapeutics, like RNAi and antisense oligonucleotides, with the drug-like properties of classical pharmaceuticals, including oral delivery, good pharmacokinetics, low side effects and ease of manufacture”.
Spring Bank Pharmaceuticals is an IND-stage drug discovery company with a strong pipeline of products representing a new class of pharmaceuticals called Small Molecule Nucleic Acid Hybrids. Our most advanced product is SB 9200 for the treatment of Hepatitis B and C. Behind SB 9200 are drug discovery programs for a broad spectrum anti-viral, COPD and cancer.
About Hepatitis
Over 350 million people are chronically infected with HBV virus worldwide. The HBV virus is a DNA virus which incorporates into the hepatocyte DNA. Read More >>
Approximately 170 million people worldwide and 4 million in the United States are infected with HCV. HCV infection is one of the most significant public health threats facing Americans.
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