Peptimmune raises $8.2 million in series D financing

The company expects a second close in second quarter of 2008, which may involve an additional new investor. The proceeds of the financing are primarily being used to advance clinical development of Peptimmune’s PI-2301 for the treatment of multiple sclerosis.

Thomas Mathers, president and CEO of Peptimmune, said: “The series D investment will provide the necessary capital to complete two clinical trials by the end of 2008: the current single ascending dose in healthy volunteers and a multiple ascending dose in multiple sclerosis patients, expected to start in second quarter of 2008.”