Wilson Therapeutics Gets $40M In Private Funding For WD Program
Biopharmaceutical company Wilson Therapeutics announced that it has secured $40 million in Series B financing for its late stage development program for Wilson’s disease treatments. The financing was co-led by its new investors, Abingworth LLP and MVM Life Science Partners LLP, together with Wilson Therapeutics’ founding investor HealthCap.
The company will use the funds to advance WTX101 (bis-choline tetrathiomolybdate) into clinical development. WTX101 is a novel de-coppering agent for the treatment of rare genetic disorder Wilson’s disease, in which the body is unable to regulate copper. Wilson’s disease may lead to serious liver and brain damage if left untreated.
Jonas Hansson, CEO of Wilson Therapeutics, said, “We are pleased with this significant support from our new as well as existing investors, who represent some of the most experienced in the global life sciences industry. Their combined experience and financial backing will enable us to advance WTX101 through clinical development with the aim of making it available and addressing the unmet medical needs in patients with Wilson's disease.”
WTX101 is the proprietary bis-choline salt of tetrathiomolybdate (TTM) which has been shown to lower and maintain copper levels in the body with once or twice daily oral dosing. TTM is able to rapidly lower and control copper levels through its unique mechanism of action. Previous data also suggest that TTM may reduce risk of neurological deterioration after initiation of treatment in Wilson’s patients with neurological involvement. In addition, the drug may also stabilize neurological function. TTM has been assessed for various indications in clinical studies involving more than 500 patients.
Genghis Lloyd-Harris, Partner at Abingworth, said, “We believe that the demonstrated and differentiated clinical profile of WTX101, and specifically its potential to avoid the often debilitating side effects of existing therapies, will make this compound the cornerstone of treatment for Wilson's disease in the coming decades.”