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Article: CellGate Closes $10M Series D, Aims For 2003 PsorBan Phase III.
- Article from:
- BIOWORLD Today
- Article date:
- November 4, 2009
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Senior Staff Writer
CellGate Inc. closed a $10 million Series D financing and will use the funds to drive through a proof-of-concept Phase IIa study and initiate multicenter Phase II trials with its lead product before expecting to enter Phase III work in 2003.
PsorBan, its topical product for psoriasis, is in a Phase IIa trial now and will begin a Phase II study soon, said CellGate CEO Edward Schnipper.
"[The Series D] was a vote of confidence by our existing backers in the technology and the progress we've made so far," he told BioWorld Today. "We're in the clinic with our lead product. [The Phase IIa trial] has completed enrollment and we ...