Callisto budgets$11.2M in new VC funds for R&D

Callisto Pharmaceuticals has rounded up $11.2 million in its second round of venture capital. RAB Special Situations (Master) Fund Limited and Absolute Octane Master Fund Limited co-led the round. The money goes to develop Atiprimod and L-Annamcyin, which are currently in clinical trials, and Guanilib, Callistro's drug for gastrointestinal diseases. Atiprimod, Callisto's lead drug in the clinic, is presently in a Phase II clinical trial in low to intermediate grade neuroendocrine carcinoma patients--predominantly advanced carcinoid cancer patients--at five clinical sites in the U.S. L-Annamycin is in Phase I trials in both adults and children with relapsed or refractory acute leukemia.

- see the release on the venture round