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Article: Nereus' Series D-2 Round Adds $45M To Advance Cancer Drugs.
- Article from:
- BIOWORLD Today
- Article date:
- November 3, 2009
CopyrightCOPYRIGHT 2009 A Thomson Healthcare Company. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Staff Writer
Nereus Pharmaceuticals Inc. secured funding to move its lead oncology candidates into Phase II programs with a $45 million Series D-2 financing round.
Funds will be drawn down in two tranches, based on milestone achievements. That arrangement is similar to the company's first Series D round, which brought in $24.3 million in December 2004, with an additional $18.3 million added upon the completion of company goals, including the filing of investigational new drug applications for lead programs NPI-0052 and NPI-2358.
The recent round will be used to complete ongoing safety studies for those compounds and, "hopefully, allow us to ...