Fwd: Seaside gets $30M to pursue new autism drug

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From: listserv@...To: sList@...Sent: 9/17/2009 1:40:42 P.M. Pacific Daylight TimeSubj: Seaside gets $30M to pursue new autism drug

Seaside gets $30M to pursue new autism drugSeptember 17, 2009 — 9:04am ET | By Carroll<http://www.fiercebiotech.com/author/john>http://www.fiercebiotech.com/story/seaside-gets-30m-pursue-new-autism-drug/2009-09-17Cambridge, MA-based Seaside Therapeutics is emerging from stealthmode this morning with an announcement that it has raised $30 millionto pursue mid-stage clinical trial development on new therapies forFragile X Syndrome and autism. Founded back in 2005 and built aroundan early-stage program licensed in from the defunct Sention, Seaside's22 staffers are pursuing one of the most puzzling diseases on theplanet with an approach that they believe has the potential tosignificantly improve the lives of autistic patients and theirfamilies.Seaside isn't your average biotech, as CEO Randall L. Carpenter,M.D., made clear in an interview with FierceBiotech. This new venturemoney was put up by an unnamed family investment firm that hasprovided the bulk of the $66 million raised to date. And the firm hascommitted to fund the company through to profitability, "ifnecessary.""It allows us to decouple ourselves from the market," says Carpenter,who has been working with Mark Bear, a neuroscience professor at MIT,on developing these new therapies. Seaside is currently enrollingpatients in two trials for Fragile X and autism. To date, saysCarpenter, only one drug--the antipsychotic risperidone--has beenapproved for autism symptoms. And the initial efficacy endpoint thatthey'll be studying is the same: to improve irritability in childrenand adolescents who suffer from autism. But Carpenter says Seaside'stherapeutic approach has the potential to do much more."It may allow individuals to speak, to learn normally," he explains."It may enhance their ability to relate to the environment, be morecalm and less anxious and potentially more interactive. We're seeingprofound effects in our animal models; how that translates to humansis what we'll find out in the next year or two." The company's lead therapy, STX209--which inhibits glutamatesignaling in the brain--entered a Phase II clinical study in adultsand adolescents with Fragile X in December 2008 and a second trial inadolescents with autism spectrum disorders was launched in March 2009.Seaside intends to expand both studies to include children as young assix years old during 2009. Data from both Phase II studies is expectedin early 2010. Read more:http://www.fiercebiotech.com/story/seaside-gets-30m-pursue-new-autism-drug/2009-09-17#ixzz0RNRRP8Ek