Allievex Completes Series A Financing Led by Pappas Capital and Novo Holdings
MARBLEHEAD, Mass., Oct. 23, 2019 — Allievex Corporation (“Allievex”), a clinical-stage biotechnology company founded by Pappas Capital, today announced the completion of a Series A financing co-led by Novo Holdings and Pappas Capital. Allievex has also appointed Kyle Rasbach, Ph.D., PharmD., Managing Partner at Pappas Ventures and Tiba Aynechi, Ph.D., Partner at Novo Holdings, to its Board of Directors. Proceeds from the fundraise will be used to support registrational Phase 2 clinical studies of Allievex’s lead product candidate, tralesinidase alfa (formerly known as BMN 250), an investigational enzyme replacement therapy to treat Sanfilippo syndrome type B or mucopolysaccharidosis IIIB (MPS IIIB) for which Allievex has obtained an exclusive, worldwide license from BioMarin Pharmaceutical Inc. Under the terms of its agreement with BioMarin, Allievex will assume all financial obligations associated with the development and commercialization of tralesinidase alfa, while BioMarin will provide certain manufacturing services in support of a marketing authorization filing.