Cambridge, MA-based Tokai Pharmaceuticals has rounded up $12 million in funding as part of a $22 million equity-financing round. Apple Tree Partners, which founded the company, contributed the money.
Tokai's lead product is TOK-001, a treatment for Castration-Resistant Prostate Cancer. The only other approved drug for this diseases is Taxotere, which can cause harsh side effects. Tokai's lead compound, TOK-001, targets three non-testicular androgen-dependent growth mechanisms and is the only specific androgen receptor modulator/lyase inhibitor (SARM/LI) in development today. Tokai intends to commence Phase I/II clinical trails with TOK-001 for CRPC in 3Q09, according to the company's website.
- here's the article from Mass High Tech