Cornerstone Pharmaceuticals Inc., a clinical stage oncology-focused pharmaceutical company, closed its Series B-4 private equity financing of $6,175,000.
The investment was led by Althea Partners.
The company will use the proceeds for its on-going phase I/II clinical trials of its lead cancer drug, CPI-613, research and development, and general corporate purposes.
CPI-613 is the lead compound to emerge from Cornerstone’s Altered Energy Metabolism Directed (AEMD) technology platform.
AEMD is a small molecule discovery and development platform targeting cancer cell metabolism established on research performed in the laboratories of Paul M. Bingham, Ph.D. and Zuzana Zachar, Ph.D., at the State University of New York at Stony Brook, Stony Brook, NY.
The company has offices and laboratory facilities in both Cranbury, NJ. and Stony Brook, NY.