Led by President and CEO Stephen Tullman, Ceptaris is developing a proprietary gel formulation of mechlorethamine hydrochloride for the treatment of early stage (stages I-IIA) mycosis fungoides, a type of Cutaneous T-Cell Lymphoma (CTCL).
The New Drug Application (NDA) for its gel is currently undergoing review by the U.S. Food and Drug Administration (FDA). The company intends to use the proceeds from the financing for ongoing operational expenses and preparation for commercialization of its gel.
Ceptaris received $7.5m at closing and has access to the remaining $7.5m if the NDA is approved by the FDA.
The company’s investors include Vivo Ventures, Palo Alto Investors, Burrill & Company, Osage Ventures, Aperture Venture Partners, and BioAdvance.