WOBURN, Mass.--(BUSINESS WIRE)--ReForm Biologics, Inc., a company developing a new generation of bio-innovative biologic medicines to improve patient access, safety, and convenience, today announced that it has completed a $10 million Series B financing and has restructured to become a C-Corporation. ReForm also announced that Jim Sherblom will become Executive Chairman of the Board of Directors, effective immediately.
“By restructuring ReForm, we are positioning the company to rapidly build a pipeline of gentler medicines for vulnerable patients who are less able to tolerate intravenous infusions,” said Jim Sherblom, ReForm’s Executive Chairman. “Changing our status to a C-Corporation will greatly increase the company's options for accessing the capital markets. The $10 million raised in the Series B financing will allow us to build our infrastructure to support our pre-clinical and ultimately our clinical programs.”
ReForm Biologics uses its technology platform to transform the formulation of biotherapeutics for the ultimate benefit of patients, particularly vulnerable populations, such as children and the elderly. ReForm does this by improving the viscosity and stability of biologics both for the company’s own programs as well as for those of other pharmaceutical and biotechnology companies seeking to enhance these characteristics for their medicines.
“As Executive Chairman, Jim Sherblom will work directly with ReForm's senior management team to bring his decades of biotechnology experience and passion for social impact investing to our mission of developing better-tolerated therapies for vulnerable patients,” said John M. Sorvillo, Chief Executive Officer, ReForm Biologics. “We are addressing a huge medical need that will require access to additional sources of capital to implement our mission to make medicines better tolerated by patients and more easily administered, and to support the on-going reformulation activities we are providing to our partners as they advance their own biological therapies.”
Jim Sherblom is a biotech entrepreneur, social impact investor, spiritual seeker, and transcendentalist. With deep roots in the life sciences industry, Jim was a founder of the Massachusetts Biotechnology Council and served as its second President. As Senior Vice President and Chief Financial Officer of Genzyme Corporation, Jim led their initial public offering and helped create many of the early biotechnology industry’s most innovative financing structures. Jim holds a BA from Yale, an MBA from Harvard, and Master of Divinity and Doctor of Ministry degrees from Andover Newton Theological School.
About ReForm Biologics, Inc.
ReForm Biologics’ mission is to develop improved biologic formulations derived from our proprietary, patented technology platform to enhance patients’ lives, particularly for fragile populations such as children and the elderly. We are doing this by improving the viscosity and stability of known biologics, with our own formulations as well as for those of other biopharmaceutical companies to make their medicines gentler for patients.