Vascular Pharmaceuticals is a clinical-stage biopharmaceutical developing VPI-2690B, a first-in-class monoclonal antibody that binds a unique target within the αVβ3 integrin implicated in diabetic nephropathy. VPI-2690B was safe and well tolerated in a Phase I single and multiple dose escalation study in healthy volunteers, and Vascular is currently conducting Phase 2 clinical trials. Proceeds from the financing will fund ongoing Phase 2 trials, which the company says are enrolling at more than 40 U.S. sites. Vascular has an agreement granting Janssen Biotech the exclusive right to acquire the company following completion of the planned Phase 2 study under pre-negotiated terms. The company was formed based on research from the University of North Carolina School of Medicine and is the exclusive licensee of patents covering the VPI-2690B program. Vascular Pharmaceuticals is headquartered in Research Triangle Park, North Carolina. Vascular Pharmaceuticals is developing VPI-2690B, a monoclonal antibody preclinical candidate targeting a pathway stimulated by hyperglycemia to treat diabetic complications. In animal studies VPI-2690B has slowed development of diabetic nephropathy, accelerated atherosclerosis and retinopathy, and reversed proteinuria and kidney histological changes. The company completed a $16 million Series A equity financing — its first institutional round — to continue preclinical and clinical development of VPI-2690B. Vascular Pharma has partnered with Janssen Biotech under an agreement that links a planned Phase 2 clinical study to potential acquisition discussions. Management expects to use the new capital to advance VPI-2690B toward clinical testing. The company is headquartered in Chapel Hill, North Carolina.

Total raised

$25M

Funding rounds

2

Latest round

Series A

Latest activity

Mar 2015