Kolltan Pharmaceuticals, Inc., a New Haven, CT-based oncology therapeutics company, has raised $10m in investments and related payments from an affiliate of Celtic Therapeutics Holdings L.P. and Tichenor Ventures, LLC.
The financing was led by Celtic Therapeutics and includes $8.5m in Series B convertible preferred stock and $1.5m that can be applied either to a product development option entered into with an affiliate of Celtic Therapeutics or converted into Series B convertible preferred stock.
Both Celtic Therapeutics and Tichenor Ventures already invested in the company’s $40m Series A financing.
The new funds will be used to advance Kolltan’s therapeutic development pipeline.
The company is developing a new generation of monoclonal antibody oncology therapeutics based on recent, seminal discoveries made in the laboratory of Dr. Joseph Schlessinger, Chairman of the Department of Pharmacology at the Yale School of Medicine.