Funxional Therapeutics Ltd, a Cambridge, UK-based clinical stage pharmaceutical company, completed a €10m (approximately US$12.5m) Series B financing round.
Investors include new partner Ventech and existing backers Index Ventures and Novo A/S.
The new capital will enables the company to further progress the development of novel anti-inflammatory therapies that belong to a new class referred to as Broad Spectrum Chemokine Inhibitors (BSCIs).
After completing, earlier this year, the Phase I clinical programme, which involved over 100 healthy subjects in a single and a multiple ascending dose studies conducted in the US, Funxional Therapeutics’ lead drug candidate, FX125L, an orally available small molecule, is ready for Phase II studies in different inflammatory conditions. The preclinical development of back-up compounds to FX125L will also be advanced in parallel.
In conjunction with the financing, Karl Naegler will join the board of directors of Funxional Therapeutics on behalf of Ventech.
The company is managed by a team with extensive drug development experience, which is supported by a strong Scientific Advisory Board composed of highly regarded international experts across various areas of immunology and inflammation.
The company is managed by a team with extensive drug development experience, which is supported by a strong Scientific Advisory Board composed of highly regarded international experts across various areas of immunology and inflammation.
FinSMEs
26/05/2010