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Genzyme Spinout Peptimmune Takes $41M First Round

NEW YORK, March 12 -- Peptimmune, a subsidiary company spun out of Genzyme in January 2002, today announced a $41 million first round funding led by New Enterprise Associates and MPM Capital.

 

Prism Venture Partners, Vanguard Ventures, Hunt Ventures, and Boston Medical Investors also participated in the funding, the immunotherapeutics firm based in Cambridge, Mass., said in a statement.

 

Robert Carpeter, Peptimmune's president and chairman, will add CEO to his title.

 

The funding reduces Genzyme's ownership interest in Peptimmune to approximately 10 percent. However, Genzyme will retain a right of first offer to participate in the commercialization of Peptimmune's lead product, an injectible immunotherapeutic for the autoimmune disease phemphigus vulgaris, a rare skin disease. The product is in Phase I human clinical trials.

The Scan

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