Celator Pharmaceuticals, Inc.
, a Princeton, NJ-based pharmaceutical company developing new therapies to treat cancer, raised $20m in a Series D private equity financing
The new capital will be used to support completion of ongoing clinical trials and activities related to advancing the company’s lead investigational product, CPX-351 (Cytarabine:Daunorubicin) Liposome Injection as a treatment for Acute Myeloid Leukemia (AML).
CPX-351, which is based on CombiPlex®, Celator’s proprietary drug ratio technology platform, has been granted orphan drug status by the U.S. Food &Drug Administration (FDA).
The round was led by a new investor, Thomas, McNerney and Partners, with participation by current investors Domain Associates, Ventures West Capital, Quaker BioVentures, TL Ventures, GrowthWorks Capital, and BDC Venture Capital.
In conjunction with the funding, Alex Zisson, partner, Thomas, McNerney & Partners, will join the company’s board of directors.
Celator Pharmaceuticals, also operates offices in Vancouver, BC.