Gem Pharmaceuticals Raises up to $4.5M

Gem Pharmaceuticals, a Birmingham, AL-based clinical-stage biopharmaceutical company, raised up to $4.5m in new capital.

Backers included existing investors Diane Hendricks and Karl Leo.

The company intends to use the funds for the upcoming Phase 2 clinical trial of GPX-150 in sarcoma patients.

Led by CEO Arthur Klausner, Gem Pharmaceuticals is developing proprietary anthracycline derivatives (GPX-150) specifically designed to eliminate the critical cardiotoxicity side effect of chemotherapeutics while maintaining their anti-cancer efficacy.

FinSMEs

19/03/2014