Cabrellis Pharmaceuticals, a recent spin-off from Conforma Therapeutics after its sale to Biogen Idec, announced that it has garnered $27.5 million in its first round of financing. Founded by former members of Conforma's management team, Cabrellis said that it would use the money to advance its oncology candidates, and in particular Calsed, its third-generation anthracycline currently in Phase II clinical testing. Domain Associates, Forward Ventures, Lilly Ventures, Novo A/S, ProQuest Investments, RBC Capital Partners, RiverVest Venture Partners, and S.R. One, Limited all participated. Cabrellis plans to initiate three separate clinical trials in small cell lung cancer this year.
- see this release on the round