VentiRx Pharmaceuticals, Inc., a San Diego, CA-based biopharmaceutical company focused on the development of candidates for the treatment of cancer, respiratory and inflammatory diseases, completed a $25m Series A Extension.
The extension was led by MedImmune Ventures, Inc., in conjunction with strong support from existing investors ARCH Venture Partners, Domain Associates and Frazier Healthcare Ventures.
This financing, coupled with the $26.6m Series A that was closed in March 2007, brings the total funds raised in Series A to $51.6m.
As stated by Michael Kamdar, Executive Vice President and Chief Business Officer at VentiRx, “this financing enables us to further advance our promising portfolio of clinical stage TLR8 drug candidates that we believe have the potential to provide considerable benefit to patients with serious diseases”.
VentiRx is developing a portfolio of clinical stage Toll-like receptor 8 (TLR8) product candidates including VTX-2337 for oncology and VTX-1463 for allergic rhinitis.
VTX-2337 is nearing completion of a Phase I clinical study in the US. The company anticipates commencing Phase II studies in 2010.
VTX-1463 has completed a Phase I study in healthy volunteers as well as a Phase IB Proof of Concept (POC) study in allergic patients.
In conjunction with the financing, Maggie Flanagan LeFlore, Ph.D., Managing Director of MedImmune Ventures, Inc., will join VentiRx’s board of directors.