Celator to use $22.5M round for Phase II trials

Celator Pharmaceuticals will be able to take a big step forward developing new cancer therapies after raising more than $22.5 million in a Series C. That money will be used to finance mid-stage studies of CPX-351 for acute myeloid leukemia. And the right data could well set the stage of future partnership deals. Investors included Domain Associates, Ventures West, Quaker BioVentures, TL Ventures, GrowthWorks Capital, and BDC Capital.  

"Our goal is to extend and enhance the lives of people with cancer," says CEO Scott Jackson. "As a result, we have developed an oncology product pipeline that has significant commercial potential. These funds will allow us to conduct additional clinical trials and generate data that we believe will enable strategic partnerships with leading biotech and pharmaceutical companies."

- check out the Celator release

ALSO: Intercept Pharmaceuticals says it's raised $25 million in equity financing from Genextra S.p.A. The financing is in lieu of a second tranche. Intercept release

PLUS: Investors gave Cara Therapeutics a $12.3 million boost. The money will be used to test two pain drugs. Release