Velicept Therapeutics, a Malvern, PA-based clinical stage pharmaceutical company focused on advancing compounds for the treatment of urological and gastrointestinal disorders, closed on the expansion of a Series B financing raising an additional $15m.
The round was led by Samsara BioCapital, with participation from existing investors CDK Associates, LLC; Fountain Healthcare Partners Fund II, L.P.; Longitude Venture Partners II, L.P; and founding investor Becker Ventures. In conjunction with the funding, Cory Freedland, a Principal with Samsara BioCapital, joined the Company’s Board of Directors.
The company intends to use the funds to complete two ongoing Phase 2b studies, as well as Phase 3 enabling work.
Led by Dr. James Walker, President and Chief Executive Officer, Velicept Therapeutics is a clinical stage pharmacautical company dedicated to the development of compounds for the treatment of urological and gastrointestinal disorders.
Its lead product, solabegron, is a highly potent and selective beta-3 adrenoceptor agonist being investigated for overactive bladder (OAB) and irritable bowel syndrome (IBS).
FinSMEs
16/10/2018