Adrenomed closes € 24 M financing led by Wellington and HBM

  • The financing round was led by top-tier life science venture capitalists Wellington Partners and HBM Healthcare Investments, joined by existing shareholders
  • The new funds will be used to execute a proof-of-concept clinical program of lead product candidate Adrecizumab in early septic shock
  • Adrecizumab provides a highly novel approach to treat life-threatening conditions by focusing on the preservation of vascular integrity

Adrenomed AG, the vascular integrity company, today announced the closing of a EUR 24 million series D financing round co-led by Wellington Partners and HBM Healthcare Investments as new investors. The new funds will be invested in the clinical development program of lead product candidate Adrecizumab. Adrecizumab is currently tested in a phase II clinical trial in patients with early septic shock and elevated plasma Adrenomedullin concentrations (bio-ADM®).

Adrenomed’s lead candidate Adrecizumab is a first-in-class monoclonal antibody targeting Adrenomedullin, an essential regulator of vascular integrity, for treatment of life-threatening conditions associated with systemic inflammatory response (SIRS) and increased vascular leakage, congestion and shock. The most important target indications are sepsis and septic shock.

The excellent safety and tolerability of Adrecizumab were demonstrated in two Phase I trials.2 Adrecizumab is currently under clinical evaluation in a biomarker-guided (bio-ADM®), double-blinded, placebo-controlled, randomized, multicenter proof-of-concept Phase II study in 300 patients with early septic shock (AdrenOSS-II, NCT03085758).3 To date already 100 patients have been enrolled.

“Septic shock is a life-threatening condition affecting millions of people worldwide with a remaining high mortality rate of approximately 30-50%.4 There is a very high unmet medical need to rescue vascular integrity in septic patients in intensive care. Our objective is the development of an effective medicine to prevent and treat septic shock,” commented Dr. Andreas Bergmann, CSO of Adrenomed.

Dr. Gerald Moeller, CEO of Adrenomed, added: “We are excited about Wellington Partners and HBM Healthcare Investments joining as new and highly experienced investors. This financing is an important validation of our unique therapeutic approach and will help us target the global market opportunity for Adrecizumab in sepsis.”

“We strongly believe that Adrecizumab may be the first approach to actually rescue vascular integrity in patients with early septic shock,” added Dr. Rainer Strohmenger, Managing Partner at Wellington Partners. “Adrecizumab may also be effective in addressing unmet needs in further life-threating and, so far, difficult to treat diseases associated with SIRS, endothelial barrier dysfunction, edema and tissue congestion.”

“Adrenomed has built a strong, biomarker-guided therapeutic approach based on a unique mode of action and we are proud to recognize the team’s success and long-term commitment with our investment,” said Dr. Priyanka Belawat, Investment Advisor at HBM Partners. “With these funds, we are confident that Adrenomed will be able to transform this concept into a breakthrough therapy with the potential to improve and save lives