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news.Kolltan Pharmaceuticals, an oncology therapeutics company, has raised over $35 million in its Series A preferred stock financing, the proceeds of which will be used to advance the company's therapeutic development pipeline.
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Kolltan has also appointed Michael Schmertzler as its new CEO and director, and Yaron Hadari as vice president of research.
Joseph Schlessinger, co-founder, chief scientist and a director of Kolltan, said: “We have formed Kolltan to translate important new insights concerning the mechanism of receptor tyrosine kinase-related disease into therapeutics that address the limitations of first generation drugs now in the clinic.
“We expect Kolltan to build on the advanced research that we have completed and move expeditiously toward the development of products and clinical trials.”