Calistoga Pharmaceuticals, Inc., a Seattle, Washington-based developer of targeted therapies for the treatment of cancer and inflammatory diseases, has closed a $40m Series C financing.
The round was led by Quogue Capital, LLC, with participation from existing investors Alta Partners, Amgen Ventures, Frazier Healthcare and Three Arch Partners and new investor Latterell Venture Partners.
The funds will be used to advance the company’s drug development pipeline of isoform-selective phosphatidylinositol 3 kinase (PI3K) inhibitors. Calistoga’s most advanced compound, CAL-101, a selective PI3K delta inhibitor, is under clinical evaluation in patients with B cell malignancies.
It is expected to be advanced into a registration program later this year.
In addition, the company will use the capital to develop CAL-263, a delta selective PI3K inhibitor, into Phase 2 studies for the treatment of patients with inflammatory diseases, as well as its preclinical programs.
FinSMEs
30/06/2010