HemaQuest is focused on developing small molecule therapeutics to treat hemoglobin disorders, advancing an orally administered lead candidate, HQK-1001, an SCFAD. HQK-1001 has been assessed in multiple clinical trials in sickle cell disease and beta thalassemia and prior studies established a safe, well-tolerated dose that induces fetal hemoglobin. Induction of fetal hemoglobin production in red blood cells has been shown to reduce the frequency of pain crises and hospitalizations in patients with sickle cell disease. The company closed a $13M extension of its Series B financing to fund a randomized, double-blind, placebo-controlled Phase 2b clinical study of HQK-1001 in sickle cell disease. Management says this financing, combined with existing cash balances, is sufficient to complete the Phase 2b trial and fund operations through early 2014. HemaQuest is led by CEO John P. Longenecker, Ph.D., and is based in San Diego and Seattle. HemaQuest Pharmaceuticals is a clinical-stage biotech based in Seattle, WA, focused on small-molecule therapeutics targeting sickle cell disease, beta thalassemia and EBV-related cancers. Its pipeline is led by two clinical-stage candidates, HQK-1001 and HQK-1004. The company closed an additional $4M into its Series B, bringing the total Series B financing to $16M. New investor Latterell Venture Partners joined existing backers Aberdare Ventures, De Novo Ventures, Forward Ventures and Lilly Ventures in the round. James Woody, MD, PhD of Latterell Venture Partners has joined HemaQuest’s Board of Directors in conjunction with the financing. The proceeds are intended to help advance HQK-1001 and HQK-1004 through Phase 2b clinical trials. HemaQuest Pharmaceuticals is a Seattle-based biotechnology company developing compounds to treat sickle cell disease, beta thalassemia and EBV-related hematologic malignancies. Its two lead candidates are HQK-1001, an orally administered small molecule for the two most common hemoglobin disorders, and HQK-1004, a therapy targeting virus-associated hematologic cancers. HQK-1001 has advanced through Phase 1 and is undergoing proof-of-concept clinical studies in patients with sickle cell disease and beta thalassemia. HQK-1004 is slated to begin testing in a corporate-sponsored Phase 2 clinical trial in the near future. The company recently closed a $12M Series B financing to help advance both lead products into pre-pivotal Phase 2 trials. The investor syndicate includes Aberdare Ventures, De Novo Ventures, Forward Ventures and Lilly Ventures.

Total raised

$29M

Funding rounds

3

Latest round

Series B

Latest activity

Mar 2012