Ception Therapeutics Raises $63 Million in Series C Financing.MALVERN, Pa. -- Ception Therapeutics therapeutics Treatment and care to combat disease or alleviate pain or injury. Its tools include drugs, surgery, radiation therapy, mechanical devices, diet, and psychiatry. , Inc., an emerging biopharmaceutical company discovering and developing novel biologic and small-molecule agents to address unmet medical needs, today announced that it has raised $63 million through a Series C private placement of preferred stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. . Essex Woodlands Health Ventures led the round and was joined by a consortium of both current and new investors including Investor Growth Capital, MDS MDS, n See temporomandibular pain-dysfunction syndrome. MDS 1 Maternal deprivation syndrome, see there 2 Myelodysplastic syndrome, see there Life Sciences Technology Fund II (managed by MDS Capital), New Science Ventures and Aperture An orifice. It often refers to an opening in which light is allowed to pass in optical systems such as cameras and lasers. See f-stop and numerical aperture. Venture Partners. Ception Therapeutics will use the proceeds from the transaction primarily to advance its late-stage biologic anti-inflammatory programs and to pursue further progression of a small molecule anti-TNF program and several other discovery programs. "This financing provides Ception with the capital necessary to move our most advanced programs to the next stage of clinical development and further progress our preclinical preclinical /pre·clin·i·cal/ (-klin´i-k'l) before a disease becomes clinically recognizable. pre·clin·i·cal adj. 1. programs," said Steve Tullman, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Ception Therapeutics. "The strong support of this group of high-quality investors highlights the value of these programs and the significance of the medical needs they are being developed to address." "We at Essex Woodlands very much look forward to working with the Ception management team and also our financial partners in completing the clinical development of Ception's lead product and further advancing other programs in Ception's pipeline," said Jeff Himawan, PhD, Managing Director, Essex Woodlands Health Ventures. About Ception Therapeutics, Inc. Ception Therapeutics is an emerging biopharmaceutical company focused on the discovery and development of novel products to address areas of unmet medical need. The Company's pipeline includes a late-stage biologic compound in clinical development for multiple inflammatory conditions, a small molecule anti-TNF program and other discovery programs. Ception Therapeutics pursues new drug targets in these and other disease areas through a proprietary thermodynamics-based rational drug design platform. For further information, visit www.ceptiontx.com. About Essex Woodlands Health Ventures Essex Woodlands Health Ventures (with roughly $1.6 billion under management) is one of the world's premier venture capital firms Name Location Founding date Managing Partners/Directors Specialty Capital managed 5AM Ventures Menlo Park, CA; Waltham, MA 2002 John Diekman, PhD (managing partner), Scott Rocklage, PhD (managing partner), Andrew Schwab (managing partner) life sciences $200M [1] focused exclusively on the healthcare industry. Essex Woodlands recently raised their seventh fund of $600 million. The firm has offices in California, Texas, New York Texas is a hamlet in Oswego County, New York, USA, near the southeastern corner of Lake Ontario. It is officially part of the town of Mexico. Geography Texas lies on Little Salmon Creek, about one-half mile above the mouth of that stream on Lake Ontario, on an east-west and London. The Essex Woodlands team has been involved in the founding, investing, and/or management of over 100 healthcare companies ranging across all sectors, stages and geography. For more information, visit www.ewhv.com. |
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