ArmaGen Technologies, Inc. Announces $17 Million Series A Financing

     ArmaGen Technologies, Inc. Announces $17 Million Series A Financing

PR Newswire

LOS ANGELES, Nov. 29, 2012

LOS ANGELES, Nov. 29, 2012 /PRNewswire/ --ArmaGen Technologies, Inc. today
announced the closing of a $17 million Series A financing to support the
development of brain-penetrating recombinant protein therapeutics. The lead
investor is Boehringer Ingelheim Venture Fund, joined by Shire plc, Takeda
Ventures, Inc., and Mitsui & Co. Global Investment, Inc. This funding will
allow for expansion of existing operations, and the clinical development of
potentially first-in-class biopharmaceuticals targeting diseases of the
central nervous system (CNS), which are engineered to penetrate the
blood-brain barrier (BBB). 

"The ArmaGen investor syndicate is a unique group of Big Pharmas each with
their own global impact. This is the first time such a diverse group from the
pharmaceutical industry has come together to finance technology in the
blood-brain barrier. I am very delighted at the trust our investors have
placed in us," said William M. Pardridge, MD, Founder and Chief Scientific
Officer of ArmaGen.

The ArmaGen molecular Trojan horse technology has the potential to re-engineer
recombinant proteins for BBB penetration for the treatment of diseases of the
brain and spinal cord. The long-term mission at ArmaGen is the development of
BBB-penetrating biopharmaceuticals for diseases of the CNS that affect over
250 million people world-wide. Initially, the company will focus on orphan
diseases of the CNS with lead biopharmaceuticals for Mucopolysaccharidosis
(MPS) Type I, or Hurler's syndrome and MPS Type II, or Hunter's disease.

Joining Dr. Pardridge on the ArmaGen Board of Directors are Stuart Swiedler,
MD, PhD, Martin Heidecker PhD (Boehringer Ingelheim Venture Fund), and Arthur
Tzianabos, PhD (Shire).

"I believe that ArmaGen has an ideal technology to help develop
brain-penetrating recombinant proteins for the treatment of a broad range of
rare diseases that affect the brain but also the periphery. If this works,
doctors will have the potential to treat their patients with only one drug.
This would be really a breakthrough for their patients," Stu Swiedler
commented.

"I am very excited to work with such an experienced team on orphan diseases,
but what makes me really excited about the technology is the potential of
broad application in neurodegenerative and other indications that affect the
brain," said Dr. Martin Heidecker of lead investor Boehringer Ingelheim
Venture Fund.  

Dr. Pardridge formed ArmaGen in 2004, and has financed the company to date
with $20 million in non-dilutive funding. The company is located in Santa
Monica, CA.

About ArmaGen® Technologies

ArmaGen Technologies is both a platform technology company and a products
company. The platform technology produces IgG fusion proteins formed by fusion
of a recombinant protein therapeutic, which does not cross the BBB to an IgG.
The IgG domain of the fusion protein is a genetically engineered monoclonal
antibody, which crosses the human BBB via transport on endogenous BBB
receptors. The IgG domain acts as a molecular Trojan horse to ferry the fused
pharmaceutical agent across the BBB from blood. ArmaGen has used the platform
technology to develop a diverse pipeline of BBB penetrating recombinant
protein therapeutics, including lysosomal enzymes, neurotrophins, decoy
receptors, or therapeutic antibodies.

www.armagen.com 

About Boehringer Ingelheim Venture Fund

The Boehringer Ingelheim Venture Fund was formed in March 2010 to invest in
biotechnology and start-up companies to help drive innovation in medical
science. These may include - but are not limited to - novel technologies to
address so far undrugable targets, new generation vaccines and new biological
entities, such as antibody-dependent oncolysis. Novel therapeutic targets and
disease-related biomarkers, as well as new approaches in regenerative
medicine, are an additional focus.

www.boehringer-ingelheim-venture.com 

About Shire

Through our deep understanding of patients' needs, we develop and provide
healthcare in the areas of:

  oBehavioral Health and Gastro-Intestinal conditions
  oRare Diseases
  oRegenerative Medicine

as well as other symptomatic conditions treated by specialist physicians.

We aspire to imagine and lead the future of healthcare, creating value for
patients, physicians, policymakers, payors and our shareholders.

www.shire.com

About Takeda Ventures, Inc.

Takeda Ventures, Inc. (TVI) is the corporate venture arm of Takeda
Pharmaceutical Company Limited. A wholly owned subsidiary of Takeda America
Holdings, Inc., TVI started operations in November 2001 and aims to encourage
and support therapeutic innovation through early stage capital investment and
provision of access to the resources of a multinational pharmaceutical
company.

www.takedaventures.com

About Mitsui & Co. GlobalInvestment, Inc.

Mitsui & Co. Global Investment, Inc. (MGI USA), which has offices in Silicon
Valley and New York, is a subsidiary of Mitsui & Co. Global Investment Ltd
(MGI), which invests in opportunities that have potential for growth.
Headquartered in Tokyo, MGI has offices inShanghai, Beijing and Mumbai in
addition to MGI USA's offices and its investments reach beyond these
geographical barriers, reflecting a diversified global portfolio.

www.mitsui-global.com

SOURCE ArmaGen Technologies, Inc.

Website: http://www.armagen.com
Contact: Dr. Ruben Boado, (310) 917-1275, rboado@armagen.com
 
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