Calistoga Pharmaceuticals, a developer of medicines for the treatment of cancer and inflammatory diseases, has closed a $30m series B financing.
Investors participating in the financing include Alta Partners, Amgen Ventures, Frazier Healthcare, and Three Arch Partners.
The funds will be used to support the advancement of Calistoga’s drug development pipeline of isoform-selective PI3K inhibitors. These include CAL-101, a delta isoform-selective PI3K inhibitor for hematologic malignancies; CAL-263, a delta isoform-selective PI3K inhibitor for treatment of inflammatory diseases; and CAL-120, a PI3K inhibitor inhibiting the delta and beta isoforms of PI3K for treatment of solid tumor malignancies.
In 2010, the company plans to advance CAL-101 and CAL-263 into Phase II clinical studies and CAL-120 into Phase I evaluation.
Carol Gallagher, CEO of Calistoga Pharmaceuticals, said: We are pleased to have the continued support of our investors to ensure the advancement of our promising pipeline and maintain our leadership position in the development of isoform-selective PI3K inhibitors.
We believe our compounds will provide significant benefit to patients with cancer and inflammatory diseases. We look forward to establishing clinical proof of concept for CAL-101 and CAL-263 and advancing CAL-120 into clinical evaluation.