OncoTartis, Inc., a Buffalo, NY-based biotechnology company developing a novel category of anti-cancer drugs, closed a $6m financing round.
Backers included Norma Investments, representing businessman Roman Abramovich, and Pharmstandard International S.A.
The company intends to use the funds for support the Phase 1 clinical trial of its lead drug candidate OT-82.
Established in 2011 and led by Alexander Polinsky, Ph.D., President and CEO, OncoTartis is a private biotechnology company whose founding IP came from the laboratory of Prof. Andrei Gudkov at the Roswell Park Cancer Institute (Buffalo, NY). Its OT-82 – which was discovered as part of OncoTartis’s program focused on tissue-specific drugs and its high selectivity for blood cancers resulted in a clearly-defined development path, both for adult and pediatric applications – has been isolated for its selective toxicity for a broad range of hematological malignancies.
The drug candidate, a Nicotinamide phosphoribosyltransferase (NAMPT) inhibitor, has demonstrated high efficacy in a variety of pre-clinical in vivo and ex vivo models of leukemias and lymphomas.
Prior to the latest fundraising round, the company’s work was funded by BioProcess Capital Ventures, a VC firm from Moscow, Russia.