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news.Tokai Pharmaceuticals has received $23m funding in a Series D3 financing to support the ongoing clinical development of galeterone (TOK-001).
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The company has already completed galeterone Phase 1 clinical trial for the treatment of patients with castration resistant prostate cancer (CRPC).
The funding has been granted by Novartis Venture Fund and Apple Tree Partners.
Additionally, the company has also named Martin Williams as its new president and CEO.
Tokai acting CEO Seth Harrison said this additional funding follows on the heels of the recent completion of our proof-of-concept Phase 1 clinical trial.