Samumed Closes on $438 Million in Equity Financing


SAN DIEGO, Aug. 06, 2018 (GLOBE NEWSWIRE) -- Samumed, LLC, announced today that it has closed its A-6 Round of equity issuance with $438 million, bringing its total equity raised to date to more than $650 million. The pre-money valuation for the round was $12 billion. 

“We appreciate the strong support from our investors,” said Osman Kibar, Ph.D., Chief Executive Officer of Samumed, “We are now in a fortunate position to both move our later stage programs to commercialization, as well as expand on our earlier stage science and clinical portfolio.”

About Samumed
Samumed’s small-molecule drug platform is harnessing the innate restorative power of the Wnt pathway to reverse the course of severe and prevalent diseases. Learn more about Samumed’s potential regenerative drug candidates and broad clinical pipeline at https://www.samumed.com/pipeline/default.aspx

Corporate Contact:
Erich Horsley
Samumed, LLC
erich@samumed.com
858-365-0200

Investor Contact:
Ashley Robinson
LifeSci Advisors
arr@lifesciadvisors.com
617-535-7742

Media Contact:
Matt Middleman, M.D.
LifeSci Public Relations
matt@lifescipublicrelations.com
646-627-8384