Xcovery, a West Palm Beach, FL-based developer of targeted therapeutics for cancer, raised a $20m equity investment from Betta Pharmaceuticals Co., a Chinese pharmaceutical company focused on discovering, developing and delivering innovative medicines.
In addition to the investment, Betta will gain Chinese rights to X-396, a small molecule anaplastic lymphoma kinase (ALK) inhibitor currently in a Phase 1/2 expansion cohort for the treatment of non-small cell lung cancer, with plans to start a Phase 3 registration study in early 2015.
Xcovery was founded by Sheridan G. Snyder and Chris Liang, Ph.D., and is led by Dr. Chris Liang, Executive Vice President and Chief Scientific Officer.
FinSMEs
29/10/2014