Spring Bank Pharmaceuticals Completes $22 Million Financing

MILFORD, Mass., Feb. 26, 2015 /PRNewswire/ -- Spring Bank Pharmaceuticals, Inc., a clinical-stage biopharmaceutical company developing novel therapeutics for the treatment of Hepatitis B virus (HBV) and other viral infections, today announced the closing of a $22 million financing. Funds from this financing will accelerate the advancement of SB 9200, a novel, broad spectrum antiviral agent derived from Spring Bank's small molecule nucleic acid hybrid (SMNH) chemistry platform, into Phase II clinical trials for the treatment of HBV.

"We appreciate the continued support and confidence of our existing investors as well as the participation of new investors in this latest financing round," commented Douglas J. Jensen, President and CEO. "There is a critical need to develop and commercialize novel approaches for treating HBV. SB 9200 is a novel agent that acts by selectively modulating the host immune response to viral infection. Recently completed preclinical studies strongly support advancing SB 9200 into Phase II clinical trials."

In a pivotal 12-week study in woodchucks chronically infected with hepatitis virus, SB 9200 demonstrated potent, dose-dependent inhibition of viral replication, potent suppression of surface antigen, significant reduction in cccDNA and overall slowdown of liver disease progression that support the novel mechanism of action of the compound. The compound was well-tolerated, with no significant adverse events reported throughout the study period. Results from the woodchuck study suggest that SB 9200 may have the potential to be a functional cure in the treatment of HBV, most likely in combination with other anti-HBV drugs.

Data from the HBV woodchuck study, as well as data from a recently completed Phase I study in patients infected with Hepatitis C virus (HCV), will be presented at an upcoming international liver conference.

About Spring Bank Pharmaceuticals

Spring Bank Pharmaceuticals is a clinical stage biopharmaceutical company. Based on its proprietary SMNH chemistry platform, Spring Bank is developing a pipeline of products representing a new class of pharmaceuticals with a wide range of applications.  These rationally designed molecules combine the selectivity of naturally occurring nucleotides with the drug- like properties of classical pharmaceuticals.  The SMNHs have the properties of oral delivery, good pharmacokinetic profile, low side effects and ease of manufacture.  The Company's most advanced clinical candidate, SB 9200, is a potential breakthrough drug for the treatment for HBV and other viral diseases. SB 9200 has a novel mechanism of action that involves modulation of the host immune response in the presence of viral infection. 

Note Regarding NIH-Funded Research

Certain studies mentioned in this press release were partly supported by the National Institute of Allergy and Infectious Diseases of the National Institutes of Health under Award Number R01AI094469 and NIAID contract laboratories. The content of this press release is solely the responsibility of Spring Bank Pharmaceuticals and does not necessarily represent the official views of the National Institutes of Health. 

Contact:
Douglas J. Jensen
President and Chief Executive Officer
(508) 473-5993 x105

SOURCE Spring Bank Pharmaceuticals, Inc.

Related Links

http://www.springbankpharm.com