The capital infusion will be used to expand the human clinical trials program for its oral CK2 inhibitor, CX-4945, including the Phase I trial in patients with multiple myeloma and a series of randomized Phase II trials. A separate Phase I clinical trial in patients with solid tumors evaluating CX-4945 as an orally administered single agent has already established favorable pharmacokinetic and safety profiles.
Cylene Pharmaceuticals, Inc., a San Diego, CA-based biotechnology company focused on discovering and developing targeted small molecule drugs to treat life-threatening cancers, closed a $12m financing.
Investors include Sanderling Ventures, HBM BioVentures (Cayman) Ltd., Novartis BioVenture Fund, BioVentures Investors, Lilly Ventures, Mitsui & Co. and Morningside Venture Investments Ltd.
Cylene’s drug discovery platform, STAND (Selective TArgeting of Non-Oncogene Networks in Disease), has already delivered a diverse portfolio of drug candidates that target the multiple pathways critical for the support and maintenance of cancer cells.