By Luisa Beltran, PEHub com
Copyright © 2015 Buyouts Insider / Argosy Group LLC
Accele Venture Partners has led a $2.2 million round for Pamlico Biopharma Inc. I2E Inc., which made the investment through the Oklahoma Seed Capital Fund which it manages, also participated. Oklahoma City-based Pamlico BioPharma, a portfolio company of Accele Biopharma, is a biopharmaceutical company that focuses on human monoclonal antibody therapeutics for infectious disease and cancer. Accele Venture Partners is also the investing arm of Accele Biopharma.
PRESS RELEASE
i2E, Inc., and Accele Venture Partners recently closed a $2.2 million investment in Pamlico Biopharma, Inc., a portfolio company of Accele Biopharma, an Oklahoma City-based biotechnology accelerator.
Pamlico was founded around human monoclonal antibody therapeutics and technologies from the Oklahoma Medical Research Foundation and from Emory University. Pamlico focuses on human monoclonal antibody therapeutics for infectious disease and cancer.
The $2.2 million Series A equity financing was led by Accele Venture Partners, the investing arm of life sciences accelerator Accele Biopharma, and the Oklahoma Seed Capital Fund, managed by i2E, Inc.
“Pamlico will use the capital to advance our antibodies toward clinical trials and for the discovery of new antibodies for infectious diseases,” said Clayton I. Duncan, chairman and CEO of Pamlico.
The Oklahoma Seed Capital Fund is a state appropriated fund managed by i2E through a contract with the Oklahoma Center for the Advancement of Science and Technology.
Located in the University Research Park in Oklahoma City, Accele Biopharma was created as a business accelerator to enable bioscience startups to develop groundbreaking science from the laboratory to the proof of concept stage and beyond.
Accele Venture Partners, LP, is a limited partnership formed to invest, together with established institutional life science investors, in the initial funding of life science companies selected and managed by Accele Biopharma, Inc.
About Pamlico Biopharma, Inc.
Pamlico BioPharma develops fully-human monoclonal antibody (hmAb) therapeutics for the rapid diagnosis and treatment of infectious diseases and cancer. Pamlico isolated antibodies to all 24 vaccine serotypes of Streptococcus pneumoniae, influenza, varicella zoster, and rabies virus. Pamlico’s lead program is focused on severe pneumonia caused by Streptococcus pneumoniae (SPN). and is in IND-enabling studies for a mAb cocktail and a companion point-of-care (POC) diagnostic against three serotypes that account for over 40% of SPN infections in pneumococcal CAP. Additional discovery programs are underway for Hepatitis B, tuberculosis, human papillomavirus, and other ID targets. Pamlico was founded on technologies from the Oklahoma Medical Research Foundation (OMRF) and from Emory University, and its first program is anticipated to enter clinical trials in 2016.
For additional information visit www.pamlicobio.com
About i2E, Inc.: With offices in Oklahoma City and Tulsa, OK, i2E’s nationally recognized services include business expertise and funding for Oklahoma’s emerging small businesses. i2E has more than $40 million of investment capital under management. www.i2E.org
About Accele Biopharma, Inc. (Accele) and Accele Venture Partners I, LP (AVP)
Accele Biopharma (“Accele”) and Accele Venture Partners 1 LP, a related special purpose venture fund, were formed to create a capital-efficient mechanism to identify, finance and manage groundbreaking, early-stage life science technologies that have the potential to dramatically improve human healthcare, have strong commercial promise and have the potential for generating early proof of concept data. To achieve this goal Accele has assembled an experienced management team, a group of sophisticated investors, a nationally recognized advisory board, leading research facilities, and the broad scientific expertise necessary to evaluate and manage such opportunities.
For more information visit www.accelebio.com.
