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Article: Cylene Brings In $26M To Further Lead Cancer Drug.
- 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
As it prepares to move its lead cancer compound into the clinic, Cylene Pharmaceuticals Inc. completed a $26.3 million Series B financing.
Proceeds will allow the San Diego-based company to advance CX-3543 through Phase I trials and into Phase II development in solid tumors and lymphomas. It also will help the company move several other preclinical compounds into Phase I, one of which will be nominated for entry within the next 12 months.
"This is just a tremendous advancement for this company," said William Rice, Cylene's president and CEO, who referred to the financing as part of an "extreme makeover" that is transforming the ...