Genyous Biomed to secure $36 million in private financing

Under the terms of this financing, investments will be made in three tranches: $12 million before March 31, 2009, $12 million before December 31, 2009 and $12 million before December 31, 2010. Genyous anticipates that these funds will cover operations for three years.

James Dao, chairman and CEO of Genyous, said: “This financing will enable us to further develop our oncology pipeline. In addition, we will be able to leverage our multifunctional multitargeted drug development platform and extend into other chronic diseases of interest which include benign prostatic hyperplasia, chronic obstructive pulmonary disease, pain and central nervous system.”