Cabrellis Pharmaceuticals Raises $27.5 Million in Series A Funding.SAN DIEGO San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. -- Cabrellis Pharmaceuticals Corporation, a specialty pharmaceutical company developing therapies for the treatment of cancer, today announced it closed a $27.5 million Series A financing. Major participating investors included Domain Associates, Forward Ventures, Lilly Ventures, Novo A/S, ProQuest Investments, RBC RBC red blood cell. RBC or rbc abbr. red blood cell RBC, n See red blood cell count. RBC red blood cells; red blood (cell) count (see blood count). Capital Partners, RiverVest Venture Partners, and S.R. One, Limited. The funding will be used to advance the clinical development of Calsed(TM), the Company's third-generation anthracycline currently in Phase II clinical testing. Cabrellis was formed in May 2006 as a spinout spin·out n. An instance of spinning out: a motorist who was injured in a spinout. from Conforma Therapeutics and founded by members of the Conforma management team that executed the sale of Conforma to Biogen Idec Biogen Idec, Inc. (NASDAQ: BIIB) is a biotechnology company specializing in drugs for neurological disorders, autoimmune disorders and cancer. The company was formed in 2003 by the merger of Cambridge, Massachusetts-based Biogen and San Diego, California-based Idec , Inc. "We are pleased to have the support of a strong group of investors," said Thomas M. Estok, president and chief executive officer of Cabrellis. "This financing demonstrates the confidence and excitement of our investors in the promise and market potential of Calsed(TM) and the capabilities of our team. With this funding, we plan to accelerate and expand the clinical development of this important cancer treatment." Cabrellis plans to initiate three separate clinical trials in small cell lung cancer Lung Cancer, Small Cell Definition Small cell lung cancer is a disease in which the cells of the lung tissues grow uncontrollably and form tumors. Description Lung cancer is divided into two main types: small cell and non-small cell. (SCLC SCLC abbr. Southern Christian Leadership Conference ) in 2006. The first trial, designed to assess the safety and efficacy of Calsed(TM) in reference to topotecan in the second-line treatment of patients with SCLC who previously responded to platinum-based chemotherapy, is currently underway at multiple clinical trial sites in the United States. Additional Phase II clinical trials are planned to assess Calsed(TM) in chemotherapeutic naive patients and in patients who were refractory to earlier platinum-based chemotherapy. Cabrellis is also planning trials outside of SCLC to evaluate the potential utility of Calsed(TM) in other tumor types. About Calsed(TM) Calsed(TM) (amrubicin hydrochloride hydrochloride /hy·dro·chlo·ride/ (-klor´id) a salt of hydrochloric acid. hy·dro·chlo·ride n. A compound resulting from the reaction of hydrochloric acid with an organic base. ) is a third generation, totally synthetic anticancer drug anticancer drug see antineoplastic. anticancer drug Chemotherapeutic, see there . In pre-clinical studies, amrubicin demonstrated a higher level of anti-tumor activity than conventional anthracycline drugs without exhibiting any indication of the cumulative cardiac toxicity common to this class of compounds. In clinical trials conducted in Japan, Calsed(TM) has been proven to be effective in patients with small cell lung cancer as well as non-small cell lung cancer Lung Cancer, Non-Small Cell Definition Non-small cell lung cancer (NSCLC) is a disease in which the cells of the lung tissues grow uncontrollably and form tumors. Description There are two kinds of lung cancers, primary and secondary. . Dainippon Sumitomo Pharma launched Calsed(TM) in Japan in December 2002 and the drug has been administered to over 6,000 patients without any reports of cumulative cardiotoxicity to date. Dainippon Sumitomo Pharma is conducting additional Calsed(TM) clinical trials in Japan in lung cancer lung cancer, cancer that originates in the tissues of the lungs. Lung cancer is the leading cause of cancer death in the United States in both men and women. Like other cancers, lung cancer occurs after repeated insults to the genetic material of the cell. . Calsed(TM) is marketed in Japan as an injectable freeze-dried preparation, indicated for use in both non-small cell and small cell lung cancers. Cabrellis has the exclusive rights to develop and commercialize Calsed(TM) in North America and Europe, licensed from Dainippon Sumitomo Pharma of Osaka, Japan. Information about clinical trials being conducted with Calsed(TM) can be found at www.clinicaltrials.gov. About Cabrellis Pharmaceuticals Cabrellis is a specialty pharmaceutical company committed to the development of therapies for the treatment of cancer. The Company's lead product, Calsed(TM) (amrubicin hydrochloride), a third generation anthracycline and the world's first totally synthetic anthracycline drug, is currently in Phase II clinical testing in the United States. Further information regarding Cabrellis is available at www.cabrellis.com. |
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