OncoEthix, a Lausanne, Switzerland-based oncology drug development company, closed a CHF18m Series B financing (approximately US$19m).
The round was led by SV Life Sciences, with participation from new investor Edmond de Rothschild Investment Partners and existing investors Index Ventures and Endeavour Vision. In conjunction with the investment, Dr Michael G Carter, Venture Partner with SVLS, will join OncoEthix’ Board of Directors.
The company intends to use the proceeds to progress OncoEthix’ novel BET bromodomain inhibitor, OTX015, into Phase II proof of concept studies.
Founded in 2009 and led by Bertrand Damour, CEO, OncoEthix is developing a small portfolio of oncology drug candidates. Its lead product, OTX015, is an orally administered synthetic small molecule targeted to BET bromodomain proteins 2/3/4. OTX015 was in-licensed from Mitsubishi Tanabe Pharma Corporation in March 2012 following completion of Phase I clinical studies in healthy volunteers.