CBT Pharmaceuticals, a Santa Clara, California-based life sciences company focused on developing innovative oncology therapeutics, closed a $9.75m Series A financing including $2 million in warrants.
The round was led by OrbiMed Asia. The Series A proceeds, along with $5m seed funding from CBT’s parent company Crown Bioscience International, increasd CBT’s operating capital to $14.75m.
The company will use the funds for the development of its oncology pipeline.
Founded in 2016 and led by Dr. Sanjeev Redkar, President and CEO, CBT Pharmaceuticals is a life sciences company developing innovative oncology therapeutics targeting the growth and proliferation of cancer cells. The company is advancing a pipeline of four development-stage assets including: CBT-101, an oral c-Met inhibitor targeting the epithelial to mesenchymal transition (EMT) pathway in cancers and CBT-501, a novel humanized monoclonal antibody targeting the Programmable Death-1 (PD-1) membrane receptor of immune cells, as well as two investigational products – a pre-clinical multi-targeted kinase inhibitor that targets uncontrolled growth signaling pathways and a novel humanized Programmable Death Ligand-1 (PD-L1) antibody that restores the body’s immune system to recognize and kill cancer cells.
CBT, which is seeking partners for combination therapies with its PD-1 and PDL-1 antibodies, also announced the addition of Gavin Choy, PharmD, MBA, as Executive Vice-President and Chief Operating Officer.