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.”