Developer of disease-specific therapies for treatment of autoimmune diseases. Initial compounds are vaccines and passive immunotherapies for systemic lupus erythematosus (SLE) and rheumatoid arthritis. MedClone's therapeutic approach identifies the specific autoantigen that is the target of the autoimmune response or the pathogenic autoantibody that is produced in such a response. Once identified, the pathogenic autoantibody can be used as a vaccine to induce the production of anti-ideotype antibodies that will down regulate the disease. To date MedClone has identified a pathogenic autoantibody (MAb 3E10) and its anti-ideotype (MAb 1C7), involved in lupus nephritis. Publicly presented human clinical data is now available which demonstrates the safety and efficacy of MAb 3E10 for treating lupus nephritis and MAb 3E10 has been granted Orphan Drug Designation. Company has also identified a human autoantibody (HRF1) believed to be involved in the pathogenesis of rheumatoid arthritis. Invesco has committed $500,000 to the current round of financing.