Oncoceutics, Inc., a Hummelstown, PA-based drug discovery and development company, received an investment of undisclosed amount.
Spring Mountain Capital, LP, a New York-based investment management firm, led the financing with additional private investors’ participation. Raymond Wong, Managing Director and Head of Private Equity at SMC, is joining the company’s Board of Directors.
The company intends to use the proceeds, in conjunction with non-dilutive grant awards, public-private partnerships and academic alliances, to accelerate the early clinical development (Phase I and Phase II) of its lead product, ONC201, a small molecule that possesses anti-tumor activity in a number of different types of human cancer.
On February 28, 2014 the U.S. Food and Drug Administration accepted the Company’s Investigational New Drug (IND) application for the Phase I/II trials of ONC201, and the company expects to begin clinical trials before the end of the year.
Oncoceutics is led by Wolfgang Oster, MD, PhD, Chief Executive Officer.
FinSMEs
29/09/2014