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Corgentech

This article was originally published in The Gray Sheet

Executive Summary

Gene therapy developer raises $13 mil. in Series B financing led by InterWest Partners, Alta Partners and JP Morgan. Proceeds will be used for expanding clinical trials for its E2F Decoy drug/device to prevent occlusion and failure in vein grafts. The firm expects to announce results from a 200-patient, Phase II trial evaluating the product in CABG procedures by the end of the quarter, according to a May 3 release. Corgentech also plans to commence a Phase III study for peripheral artery disease in mid-summer. The E2F Decoy is an oligonucleotide that prevents proliferation of abnormal cells that cause atherosclerotic lesions. Vein grafts are bathed in the E2F Decoy solution outside the body in a proprietary pressure-mediated device for about ten minutes before being inserted into the patient
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