SAN DIEGO, May 11, 2016 /PRNewswire/ -- Viriom Inc., a late-stage biotech company developing novel and affordable therapies against life threatening infections, announced today that it raised $4,700,000 of equity and non-equity financing, including a three-year grant of 150 million rubles ($2,350,000 US dollars) from The Skolkovo Foundation, for the development of fixed-dose combinations and long-acting injection formulations of Elpida® (elpivirine), Viriom's best-in-class non-nucleoside reverse transcriptase inhibitor (NNRTI) for the treatment of HIV/AIDS. ChemRar and Torrey Pines Investment committed to this program on a pari passu basis and will provide matching funding in the form of capital investment. The drug's unique pharmacokinetic properties, reinforced in the new formulations, allow it to offer a new approach to HIV prevention and treatment, potentially making it more effective and accessible, and eliminating the need for daily drug intake.
HIV is a pressing global issue, with 30 million patients infected worldwide. The main challenges facing effective HIV treatment today are low compliance rates and development of resistance to therapy. Efficacy and safety studies have demonstrated that Elpida has high virologic and immunologic efficacy in combinational therapy, significantly increased safety compared to currently used NNRTI drugs, as well as excellent virus mutation stability. Additional studies have shown that Elpida has a prolonged blood plasma half-life suitable for both a once weekly formulation and a new long-acting injectable formulation that is effective for at least 30 days of treatment and pre- and post-exposure prophylaxis. Therefore, Elpida has the potential to address the primary HIV treatment challenges and provide a new alternative to daily drug use for HIV patients.
The type of therapy anticipated by Elpida would allow increased availability of HIV treatments in inaccessible regions and could facilitate their use among populations at high risk for HIV/AIDS.
Viriom Inc. is a late-stage biotech company developing, manufacturing and distributing novel and affordable therapies against life threatening infections such as HIV and HBV (Hepatitis B virus). The company has an exclusive worldwide license to its Phase 2-3 HIV oral treatment Elpida® (elpivirine) from F. Hoffmann-La Roche and is developing a proprietary treatment for chronic HBV. Viriom believes its drug candidates are capable of making a breakthrough in treating and preventing HIV and chronic HBV infections in both developing and developed countries. For more information, please visit www.viriom.com.
About Skolkovo Foundation
Charged with acting as the catalyst for the diversification of the Russian economy, the Skolkovo Foundation has an overarching goal of creating a sustainable environment for entrepreneurship and innovation, engendering a startup culture and encouraging venture capitalism. The Skolkovo Foundation identified five key areas of potential growth: energy efficiency, strategic computer technologies, biomedicine, nuclear technologies and space technologies.
About Torrey Pines Investment
Torrey Pines Investment, founded in 2002, is a specialty life-science investment company located in San Diego. Torrey Pines invests in discovery and early development stage assets working in therapeutic areas with unmet needs to develop breakthrough medications, diagnostic and healthcare system innovations. For more information, please visit http://torreypinesinv.com/.
ChemRar Group is a unique pharma and biotechnology conglomerate built in the Russian Federation and focused on developing and commercializing novel drugs for partners in Russia and in other high growth pharmaceutical markets. ChemRar's drug pipeline includes over 25 original, generic and biosimilar drugs on the market and in development. For more information, please visit http://www.chemrar.ru/.
Torrey Pines Investment
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