Gemin X Pharmaceuticals, a Malvern, Pennsylvania-based clinical stage biopharmaceutical company developing targeted cancer therapeutics, closed its $16m Series D round of financing.
Existing investors Caxton Advantage Life Sciences Fund LP and Sanderling Venture Partners co-led the round. The Series D structure grants certain current investors the option to invest an additional $4m in this financing round in the future.
The financing is occurring on the heels of positive Phase 1b data for the company’s lead product candidate, obatoclax GX15-070), in patients with small cell lung cancer (SCLC).
The ongoing Phase 2b clinical trial is designed to evaluate its efficacy and safety in combination with standard chemotherapy. It is being conducted at over 60 leading cancer centers, primarily in the United States and Europe.
Gemin X currently has several clinical development programs underway, including an innovative pan Bcl-2 inhibitor, and GMX1777, a novel inhibitor of NAD+ synthesis that has completed a Phase 1 study.