Kolltan Pharmaceuticals, a New Haven, CT-based biopharmaceutical company focused on the development of novel biologics targeting receptor tyrosine kinases, completed a $60m Series D financing.
The round was led by a new investor, a Boston-based global institutional asset manager, and by an existing investor, KLP Enterprises, with participation from new investors Deerfield Management, Franklin Berger, and others and existing investors HBM Healthcare Investments Ltd., Purdue Pharma L.P., Osage University Partners, and others.
Led by Jerry McMahon, Ph.D., President and Chief Executive Officer, and Chairman, Arthur Altschul, Jr., Kolltan Pharmaceuticals focuses on advancing a new generation of therapeutics in oncology and other diseases by discovering and developing novel biologic agents designed to modulate the function of receptor tyrosine kinases (RTKs).
The company intends to use the funds to advance its lead clinical-stage candidate, KTN3379, into Phase 2 clinical trials in cancer patients suffering from various malignancies, and advance preclinical candidates toward IND filing and clinical studies.
KTN3379 is a dual-mechanism monoclonal antibody that is a potent inhibitor of the ErbB3 receptor tyrosine kinase (RTK).
FinSMEs
26/03/2014