Isarna Therapeutics bags $7.6 mln

Isarna Therapeutics said Thursday that it has closed $7.6 million in funding. The investors included AT NewTec, Global Asset Funds and MIG Fonds. Also, the company has named Elizabeth Czerepak as chief financial officer and chief business officer to lead the company’s new New York City office. Headquartered in Munich, Germany, Isarna Therapeutics is developing TGF-β inhibitors to fight cancer.

PRESS RELEASE

MUNICH–(BUSINESS WIRE)–April 24, 2014–
Isarna Therapeutics GmbH, a leader in TGF-β therapeutics, today announced that it has raised Euro 5.5 million (US$ 7.6 million) in equity from its current investors including AT NewTec, Global Asset Funds, and MIG Fonds. The company also announced that Elizabeth Czerepak has joined Isarna’s management team as Chief Financial Officer and Chief Business Officer to lead the company’s new office location in New York City.
“Isarna is committed to its leadership in TGF-β and we see Elizabeth’s addition to our management team, as well as our expansion into the U.S., as key strategic steps toward building our presence in the global biotech industry,” said Dr. Philippe Calais, Chief Executive Officer at Isarna Therapeutics. “We are grateful for the continued support and confidence from our investors as we work to create Isarna’s future.”
“Isarna’s goal of unlocking the power of TGF-β for cancer immunotherapy and as an innovative approach for treating ocular diseases and fibrosis is tremendously exciting and I am excited to join this impressive team and make an impact toward achieving success for the company,” added Ms. Czerepak.
Elizabeth Adkins Czerepak brings to Isarna twenty-one years of pharmaceutical and biotechnology leadership experience and nine years as a venture capital investor at JP Morgan and Bear Stearns. Ms. Czerepak has served in executive-level finance, licensing and corporate development positions, most recently as Chief Financial Officer and Principal Accounting Officer at Cancer Genetics, Inc. (CGIX), that she took public on NASDAQ and for which she raised three rounds of public financing totaling $69 million. Prior to CGI, Elizabeth worked at BASF Pharma (Knoll), Hoffmann-La Roche and Merck & Co.
About Isarna Therapeutics
Isarna Therapeutics has an unmatched commitment to developing TGF-β inhibitors that stimulate the human immune system to effectively fight cancer and other diseases. We are advancing a unique pipeline of novel oligonucleotides and combination modalities to transcend clinical response and improve patient outcomes. www.isarna-therapeutics.com

 

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