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BioClin Therapeutics Raises USD 30m in Venture Financing.

M2 PHARMA-March 23, 2017-BioClin Therapeutics Raises USD 30m in Venture Financing


- US-based drug development company BioClin Therapeutics, Inc has closed a USD 30m series B financing, the company said.

The financing was led by new investors Sofinnova Ventures and Ysios Capital, and included existing investors HealthCap, Life Sciences Partners, and Tekla Capital Management.

Since its founding, the company has raised a total of USD 59m with leading institutional investors.

BioClin said the proceeds from this financing will be used to advance the company's lead development candidate, B-701, for the treatment of patients with metastatic bladder cancer, or metastatic urothelial carcinoma, who have relapsed or are refractory to platinum therapy.

In conjunction with the financing, Cory Freedland, PhD, of Sofinnova Ventures and Joel Jean-Mairet, PhD, of Ysios Capital have joined the board of directors. David Lacey, MD has been named as a board observer.

Lacey, formerly senior vice president of Discovery Research at Amgen, possesses over 20 years of scientific and senior leadership experience within the life sciences, focused on creating new medicines to make a difference in the lives of patients worldwide.

During his tenure at Amgen, Lacey led an organization of more than 1200 scientists across a portfolio of drug discovery and development programs in the therapeutic areas of hematology/oncology, inflammation, metabolic disorders, and neuroscience.

Lacey currently serves as a board member for Nurix Inc., Atreca, and Inbiomotion SL, and acts as an advisor to a number of academic institutions, biotechnology companies, and is a venture partner at Ysios Capital.

BioClin Therapeutics is a privately-held clinical stage drug development company developing biologics to address medical conditions in areas of high unmet need.

The company's lead candidate is B-701, a potential first-in-class human monoclonal antibody targeting FGFR3 (fibroblast growth factor receptor 3). B-701 is currently being evaluated in the treatment of metastatic bladder cancer.

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Publication:M2 Pharma
Date:Mar 23, 2017
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