Pathway Therapeutics, a San Francisco, California-based drug discovery and development company, has raised a US$4.5m fourth tranche of its Series A private equity round.
The financing was led by GBS Venture Partners, Australia, and CM Capital Investments, Australia, with participation from the Breast Cancer Research Trust, the Trans-Tasman Commercialisation Fund, and the New Zealand Venture Investment Firm.
The new capital will be used to advance Pathway Therapeutics’s lead dual inhibitor of PI3 kinase alpha and mTOR (PWT33597) to the clinic in 2011, and to support ongoing discovery efforts in isozyme selective and irreversible PI3K inhibitors.
PI3 kinase and mTOR are key enzymes involved in controlling cell growth and are of particular interest as potential cancer and inflammation therapeutic targets.
Founded in New Zealand, the company has re-incorporated as Pathway Therapeutics, Inc. in the United States.