SEMPRUS BIOSCIENCES RAISES ADDITIONAL $18 MILLION
Series B Financing to Support First Product Regulatory Clearance and Clinical Validation
Semprus BioSciences, a biomedical company developing products designed to address the 56,000 annual deaths and $11.2 billion in infection- and thrombus-complication costs1 from vascular access products, today announced the closing of an $18 million Series B financing.
SR One, the corporate venture capital arm of GlaxoSmithKline (NYSE: GSK), and Foundation Medical Partners (FMP), a national healthcare venture capital investment firm, co-led the financing. 5AM Ventures and Pangaea Ventures, both of whom invested in the Series A financing, are also participating. As a result of these financing rounds, Semprus has raised a total of $28.5 million in equity.
"Semprus has done an outstanding job since 5AM Ventures provided seed funding in 2007,” said Semprus BioSciences Chairman of the Board, Scott Rocklage, Ph.D. “Over the last three years, the team has pioneered the Semprus Sustain™ platform and this capability will lead to a new standard of care by inhibiting microbial adhesion activity and thrombus accumulation on the surfaces of medical devices,” he said.
Semprus BioSciences spun out of the labs of biomedical researcher and Massachusetts Institute of Technology (MIT) Professor Dr. Robert Langer in 2007, following its first place finish in MIT’s $100K Entrepreneurship Competition. Semprus’ proprietary platform also incorporates the research of Shaoyi Jiang, Ph.D., the Boeing-Roundhill Professor of Chemical Engineering at the University of Washington who was a visiting professor in MIT’s Langer Lab at the time.
The company’s first product line of the Semprus platform, Semprus Sustain(TM), signifies a breakthrough for the medical device industry. “The Semprus Sustain™ Technology is designed to significantly extend the mean time between medical device complications due to microbial adhesion and thrombus formation,” said David L. Lucchino, Semprus BioSciences Chief Executive Officer. “We expect our technology to facilitate overall improvements in medical device performance, medical procedures and patient outcomes.”
SR One Partner Simeon George, M.D., said “Semprus’ Sustain™ is designed to disrupt the way bacteria and blood components interact with medical devices, which we believe can help in the management of patient complications due to infection and blood clots, thereby lowering healthcare costs. We see the platform expanding to next-generation products such as novel drug delivery surfaces, with potential for improved clinical benefits across the medical device spectrum.”
As a result of this financing, John Sullivan, Principal, Foundation Medical Partners and Simeon George, M.D., Partner, SR One, will join the Board of Directors, which is comprised of Scott Rocklage, Ph.D., Partner, 5AM Ventures and Semprus BioSciences Chairman of the Board; Purnesh Seegopaul, Ph.D., Partner, Pangaea Ventures; Robert S. Langer, D.Sc., Institute Professor, MIT ; Mark Colella, Principal , 5AM Ventures (board observer) and David Lucchino, Chief Executive Officer, Semprus BioSciences. In addition to its equity financing, Semprus BioSciences has secured $2.5 million in funding from the U.S. Department of Defense, the U.S. Department of Energy, the National Institutes of Health and the National Science Foundation since 2008.
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