Advertise With UsAdvertise on our extensive network of industry websites and newsletters.
Get the PBR newsletterSign up to our free email to get all the latest PBR
news.Proteolix, which discovers and develops novel therapeutics that target protein degradation pathways in cancer and autoimmune diseases, has announced the successful completion of a new financing round of $79 million.
Subscribe to our email newsletter
The series C round was led by new investor Nomura phase4 Ventures. New investor Westfield Capital Management and existing investors, Advanced Technology Ventures, Delphi Ventures, Latterell Venture Partners, US Venture Partners and The Vertical Group, all participated in the financing.
Proceeds from the financing will primarily support the completion of the company’s ongoing Phase II clinical trials of carfilzomib, and the advancement of this anticancer therapeutic into Phase III clinical trials for the treatment of multiple myeloma. Proteolix will also use the funds to advance candidates in the company’s earlier stage pipeline of proteasome inhibitors.
Proteolix has also announced that Paul Hastings, president and CEO of OncoMed Pharmaceuticals, has joined its board of directors.
Susan Molineaux, CEO of Proteolix, said: “Our lead candidate, carfilzomib, has demonstrated promising results in clinical and preclinical studies in multiple myeloma and a variety of other tumor types. Proceeds from this financing will enable us to advance carfilzomib to registration studies for multiple myeloma while continuing to cultivate select early-stage assets in our pipeline.”