New York, New York – June 16, 2016 –DeerfieldManagement Company today announced its lead investment in the visionary anti-fibroticcompany Blade Therapeutics. Blade Therapeutics is developing cutting edge therapies to treat patients with diverse fibrotic diseasesfor which there are currently no remedies. The proceeds from the $45 millionSeries B financing will be used to advance the selection and development of a leadmolecule.
Blade Therapeutics exploits novel targetbiology to halt the progression of fibrosis. The technology is licensed fromJohns Hopkins University School of Medicine and is based on the research from thelaboratory of Harry (“Hal”) Dietz, M.D., the Victor A. McKusick Professor ofGenetics in the Institute of Genetic Medicine at Johns Hopkins University School of Medicine.
“Weare excited to support the ground-breaking science developed at Johns Hopkins. It truly has the potential to change the courseof fibrosis and provide disease altering therapies to patients,” stated WilliamSlattery, partner at Deerfield Management.
“Fibrosis,in its many forms, is a clear unmet need and affects a diverse number ofpatients,” commented Cameron Wheeler, principal at Deerfield Management Company. “The chemistry and biology developed bythe Blade team has created a new path to a potential cure.”
WendyeRobbins, MD and CEO of Blade said “We are looking forward to having Deerfieldas an investor in Blade. Deerfield has shown an ability to provide supportbeyond capital which we believe will leverage our capabilities as Blade growsboth scientifically and operationally. We are also excited to welcome PfizerVentures, Bristol Meyers Squibb, and Novartis to the syndicate. We believe thatwith the leadership of this premier team of investors in addition to ourexisting shareholders we will be in a position to build the leading fibrosiscompany.”
About Blade Therapeutics
Blade Therapeutics is a privatebiopharmaceutical company revolutionizing the treatment of fibrotic disease.Blade is exploiting novel target biology to halt the progression of fibroticdisease. The company is committed to building the leading company in anti-fibrotic drug discovery anddevelopment. Blade began operations inthe third quarter of 2015 with a license to ground-breaking research from Harry(“Hal”) Dietz, M.D.at Johns HopkinsUniversity School of Medicine and investment from MPM Capital. The company’s talentedand dedicated team of scientists are committed to the discovery and developmentof novel therapies that can modify the course of multiple fibroticdiseases. Please visit www.blademed.com for more information.
Deerfield is an investment management firmcommitted to advancing healthcare through investment, information andphilanthropy.
For more information, please visit www.deerfield.com
Karen Heidelberger, 212-692-7140