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Phase I Clinical Trial of TRX1 Initiated 
CAMBRIDGE, MA January 3, 2003 TolerRx, Inc., a biopharmaceutical company specializing in the discovery and development of therapies that induce and maintain immunological tolerance, today announced the completion of its Series C financing. The funds obtained will finance the clinical development of its two lead products and the expansion of its research programs, including the TolerMabTM antibody platform. Skyline Ventures led the $35 million financing round, which included other current investors HealthCare Ventures, Rho Ventures, and Vertex Management, as well as new investors Sprout Group, Artal Services, Lehman Brothers, Yasuda Enterprise Development, Mizuho Financial, Aozora Bank, and Duke University. TolerRx will use the funds for the clinical development of its two lead antibody products, TRX1 and TRX4. TRX1 is a humanized anti-CD4 monoclonal antibody that is currently in a Phase I clinical trial in collaboration with Genentech, Inc. TRX4 is a humanized anti-CD3 monoclonal antibody that is in an investigator-sponsored clinical trial to treat patients with new-onset Type I diabetes mellitus. TolerRx will also use the proceeds from the financing to market its TolerMab antibody platform and expand its research and development efforts. The TolerMab technology can be used to modify therapeutic monoclonal antibodies so that they are recognized by the body as "self". TolerMab antibodies provide the potential for long-term use in patients with chronic disease by reducing or eliminating the development of an immune response. This would result in the potential for long-term efficacy with repetitive dosing and an improved side-effect profile on first dosing. In addition, TolerRx will increase its research and development efforts focused on T-regulatory cells and dendritic cells in order to identify new targets and genes that induce or eliminate immunological tolerance. "We are pleased to have such a strong financing round and investor support as we move our lead products, TRX1 and TRX4, forward in clinical development. We believe products that induce immunological tolerance will provide the outcomes that patients want: long-term, durable clinical responses after only short courses of therapy with little to no immunosuppression," said Douglas J. Ringler, V.M.D., President and Chief Executive Officer of TolerRx. "We are pleased to be able to lead this financing round and recognize the achievements made by TolerRx in the past year," said Yasunori Kaneko, M.D., managing director of Skyline Ventures. "With two products in the clinic, a collaboration with Genentech, the TolerMab antibody platform technology, and strong research programs, TolerRx has a balanced business model and a sustainable pipeline." About TolerRx TolerRx is a biopharmaceutical company specializing in the discovery and development of therapies that induce and maintain immunological tolerance and reprogram the immune system to treat patients with immune-related diseases. TRX1 (anti-CD4 humanized monoclonal antibody) is currently in a Phase I clinical study in collaboration with Genentech, Inc. TRX4 (anti-CD3 humanized monoclonal antibody) is currently being studied in an investigator-sponsored clinical trial to treat patients with new-onset Type I diabetes mellitus. The Company's TolerMabTM platform is focused on modifying monoclonal antibodies to become immunologically recognized as "self" while maintaining therapeutic activity for long-term use. TolerRx also has two research and discovery programs that are characterizing new targets involved in the induction of immunological tolerance for the treatment of immune-mediated diseases and in the removal of tolerance for the treatment of cancer or chronic viral diseases. For further information, please visit www.tolerrx.com. TolerMabTM™ is a trademark of TolerRx, Inc. |
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Copyright ©2007 Rho Capital Partners, Inc.