Seattle-based Calistoga Pharmaceuticals has kept the faith with its Series A investors, bringing them back for a $30 million second round.
Frazier Healthcare Ventures, Alta Partners, Three Arch Partners, and Amgen Ventures--which collectively ponied up $21 million in the Series A--all participated in the second round, which Xconomy notes is the second largest of the year for Seattle's life sciences cluster. The three-year-old biotech licensed in technology from Icos and is focused on the PI3 kinase pathway, a big field these days in cancer biology.
The developer's pipeline includes CAL-101, a delta isoform-selective PI3K inhibitor for hematologic malignancies; CAL-263, a delta isoform-selective PI3K inhibitor for treatment of inflammatory diseases; and CAL-120, a PI3K inhibitor inhibiting the delta and beta isoforms of PI3K for treatment of solid tumor malignancies. In 2010, the company plans to advance CAL-101 and CAL-263 into Phase II clinical studies and CAL-120 into Phase I evaluation.
"We believe our compounds will provide significant benefit to patients with cancer and inflammatory diseases," says Calistoga CEO Carol Gallagher. "We look forward to establishing clinical proof of concept for CAL-101 and CAL-263 and advancing CAL-120 into clinical evaluation."
- here's Calistoga's release
- read the report from Xconomy
ALSO: Synageva BioPharma has added $3 million to its first round, bringing the total to $33 million and adding two new investors. Report
PLUS: Providence, RI-based NABsys has raised $4 million in a new equity round. Report