NeXeption, LLC, a Malvern, PA-based biopharmaceutical management company, has secured $21.5m in Series A financing to form Alexar Therapeutics, Inc.
The round was led by New Science Ventures and Third Point Ventures with participation from Palo Alto Investors.
Led by Dave Pfeiffer, Chief Executive Officer, Alexar focuses on developing an innovative portfolio of Liver X receptor (LXR) agonists for both systemic and local use. LXR agonists are members of the nuclear receptor superfamily that regulate multiple genetic pathways and exhibit potent anti-inflammatory activity.
The company will use the funds for the initial development of its lead compound, A-110, a topical LXR agonist for the treatment of inflammatory cutaneous disorders.
Entrepreneur Steve Tullman, Managing Partner of NeXeption, will serve as Chairman of the Board of Directors of Alexar. Dr. Neal Walker, NeXeption partner, will serve as Vice Chairman of Alexar.
The Board will also include Somu Subramaniam of New Science Ventures and Jason Hong, Ph.D. of Third Point Ventures.
FinSMEs
03/01/2014