The company says the financing proceeds will be used to complete a randomized Phase 2 trial of CRLX101 in non-small cell lung cancer, and to support other investigator-sponsored CRLX101 Phase 2 trials.
In addition, the financing will support Cerulean’s docetaxel nanopharmaceutical candidate to advance into clinical trials apart from helping in expansion of other platforms including the delivery of RNA-based therapeutics.
Cerulean president and CEO Oliver Fetzer said the company raised an additional round of financing to advance the progress across their portfolio of opportunities.
"This financing will allow us to further develop CRLX101 in non-small cell lung cancer and explore additional important indications while advancing a set of pre-clinical nanopharmaceutical programs, including one for RNAi delivery," Fetzer added.