TolerRx raises $35.6 million to advance TRX4 in type 1 diabetes

By Lisa Kerner

Charlotte, N.C., Aug. 16 - TolerRx, Inc. said it completed a $35.6 million round of financing, which included funding from the Juvenile Diabetes Research Foundation (JDRF).

The funds will support the clinical development of TolerRx's lead product, TRX4, an anti-CD3 monoclonal antibody in development for type 1 diabetes and psoriasis.

New investor FrontPoint Partners, LLC led the round, joined by additional new investors Mesirow Financial, Swiss Re, QVT Fund LP, IBT Management Corp. and Brookstone Capital.

Participating existing investors included Skyline Ventures, Bear Stearns, Sprout Group, Rho Ventures, Artal Services NV and HealthCare Ventures.

"These funds, combined with JDRF's support and expertise, will allow us to further execute our plan to move TRX4 into a phase 3 pivotal trial in new-onset type 1 diabetes this year," president and chief executive officer Douglas J. Ringler said in a company news release.

TolerRx is a Cambridge, Mass.-based biopharmaceutical company focused on novel therapies to treat diseases of the immune system.

Issuer:	TolerRx, Inc.
Issue:	Financing
Amount:	$35.6 million
Investors:	FrontPoint Partners, LLC (lead), Juvenile Diabetes Research Foundation, Mesirow Financial, Swiss Re, QVT Fund LP, IBT Management Corp., Brookstone Capital, Skyline Ventures, Bear Stearns, Sprout Group, Rho Ventures, Artal Services NV, HealthCare Ventures.
Announcement date:	Aug. 16

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