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Acologix, Inc. Closes $25 Million Series C Financing
Hayward, CA-December 20, 2005 — Acologix Inc., a privately
held biopharmaceutical company, announced today that the Company
has raised $25.3 million in Series C financing.
Participating in this round, which closed December 16, 2005, were
mostly institutional investors and venture capitals that participated
in the previous rounds, namely, Tokio Marine & Nichido Fire
Insurance Co., Ltd., JAIC America and it group companies, and Nomura
Research and Advisory Co., Ltd. New investors participating in the
round were Nomura Securities Co., Ltd. and UOB JAIC Venture Bio
Investments Ltd. (UJVBI), a fund incorporated in Singapore.
“We are extremely fortunate to have the continued support
from our existing investors from the previous financing rounds,
as well as the endorsement from a new group of prestigious investors,”
said Yoshi Kumagai, President and CEO of Acologix. “We believe
this financing validates the progress that Acologix has made in
each of its programs over the year, and will permit us to further
advance our product development and commercialization efforts."
Acologix plans to use most of the funding for the Phase III clinical
development of AC-820, its drug candidate for the treatment of uremic
pruritus in dialysis patients. Additionally, the Company plans to
continue development of its hard tissue regeneration compound, AC-100,
and AC-200, a drug candidate aimed at reducing serum phosphate levels
associated with chronic kidney disease.
Acologix has raised over of $72 million to date through three rounds
of private financing.
About Acologix, Inc.
Acologix strives to improve patients’ lives by developing
and commercializing innovative biopharmaceuticals targeting “osteo-renal”
(bone and kidney) diseases. Acologix’ substantial expertise
in identifying and developing therapeutics with unique mechanisms
of action in the osteo-renal field will be a key to solving major
kidney and bone health problems. Such conditions include chronic
kidney disease, renal osteodystrophy, bone repair and regeneration,
periodontal disease, general dentistry and oral care. These conditions
are present in increasing numbers worldwide and require the development
of novel therapeutics. Acologix is uniquely focused on these rapidly
growing health care problems. In June 2005, Acologix has announced
a partnership with Toray Industries, Inc. of Japan on the development
and commercialization of AC-820 (or TRK-820), an anti-pruritic agent
for the treatment of uremic pruritus in dialysis patients. A European
Phase III pivotal clinical study is underway. Acologix plans to
launch a US Phase III trial in late 2006. Acologix’ leading
hard tissue regeneration compound, AC-100 (Dentonin®) is currently
under investigation in two Phase II clinical studies in Europe and
the United States for the repair of periodontal defects and in dental
restorations, respectively. Acologix is also developing AC-200 (Phosphatonin)
to treat hyperphosphatemia and its subsequent clinical problems
associated with chronic kidney disease.
This press release contains “forward-looking” statements.
These statements involve risks and uncertainties, which may cause
results to differ materially from those set forth in the statements.
The forward-looking statements include statements regarding product
development and cannot be guaranteed. Acologix undertakes no obligation
to publicly update any forward-looking statement, whether as a result
of new information, future events, or otherwise. Forward-looking
statements in this press release should be evaluated together with
the many uncertainties that affect Acologix’s business.
Company Contact
Yoshi Kumagai
President and CEO
Phone: 510.512.7200
Fax: 510.786.1116
ir@acologix.com
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