Celtaxsys, Inc., a Atlanta, GA-based clinical stage drug development company focused on developing novel therapies for inflammatory diseases, completed a $40M Series D financing.
The round was led by Domain Partners VIII with participation from Lumira Capital, RMI Partners, Masters Capital Management and the Georgia Research Alliance Venture Fund. In conjunction with the financing, Nicole Vitullo, Partner at Domain Associates, Gerry Brunk, Managing Director at Lumira Capital, and Maxim Gorbachev, Partner at RMI Partners will join the Celtaxsys’ board of directors.
Led by Greg Duncan, President and CEO, Celtaxsys is advancing a CTX-4430, a once daily, oral anti-inflammatory medicine, in preserving lung function in CF patients. CTX-4430 has been granted Orphan Drug Designation in both the US and the EU.
The financing, which will be supplemented by a $5M grant from the Cystic Fibrosis Foundation Therapeutics (“CFFT”), the non-profit drug discovery and development affiliate of the Cystic Fibrosis Foundation (“CFF”), will help fund Celtaxsys’s Phase 2 trial assessing the safety and efficacy of its lead candidate, CTX-4430, in patients with moderately severe acne vulgaris, with top line results expected by the end of Q1 2016.