Celator gains $20M round for cancer drug dev

Princeton, NJ-based Celator Pharmaceuticals has closed a $20 million Series D to back its development work on new cancer therapies. Its lead drug--CPX-351 (Cytarabine:Daunorubicin) Liposome Injection--is a treatment for acute myeloid leukemia. The round was led by a new investor, Thomas, McNerney & Partners, with participation by current investors Domain Associates, Ventures West Capital, Quaker BioVentures, TL Ventures, GrowthWorks Capital and BDC Venture Capital. "Earlier this year we announced that CPX-351 achieved a statistically significant improvement in complete remissions in newly diagnosed, elderly AML patients compared to the standard of care in a randomized Phase II study," said CEO said Scott Jackson. "We look forward to disclosing these results and other data later this year." Celator release