Phosplatin Therapeutics Closes $18.4M Financing Round

Phosplatin Therapeutics

Phosplatin Therapeutics LLC, a NYC-based clinical stage pharmaceutical company focused on oncology therapeutics, raised $18.4m in private financing round.

Participation included new and existing investors, inclusive of family offices from the US, Europe and Asia-Pacific, and high net worth individuals.

The company – which has raised $56m in equity capital since inception – intends to use the funds to advance PT-112 through clinical development as a monotherapy, including in mCRPC and multiple myeloma, and in combination with PD-L1 immune checkpoint inhibition. Phosplatin plans to utilize the proceeds of this capital raise to complete Phase 2 development of PT-112, and its continued planning prior to launching intended pivotal trials.

Led by Robert Fallon, President and Chief Executive Officer, Phosplatin Therapeutics is a clinical stage pharmaceutical company that holds exclusive global license to phosphaplatins, a family of small molecules rationally designed to circumvent the mechanisms of drug resistance and toxicity commonly associated with chemotherapeutic regimens. The company’s lead candidate, PT-112, is a novel chemical entity under clinical development that exhibits a unique combination of properties, including immunogenic cell death and osteotropism. Phosplatin also is sponsoring an ongoing clinical study of PT-112 in combination with the PD-L1 inhibitor avelumab under a collaboration agreement with Pfizer and Merck KGaA, Darmstadt, Germany (operating as EMD Serono in the US and Canada).

FinSMEs

27/08/2020

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