Constellation Pharmaceuticals, Inc. Raises $55 Million in Mezzanine Financing
Funding Supports Advancement of Pipeline and Epigenetics Platform
CAMBRIDGE, MA--(Marketwired - Dec 9, 2015) - Constellation Pharmaceuticals, Inc., a leader in the rapidly expanding field of epigenetics, today announced the successful completion of a $55 million mezzanine round of financing. The Company plans to use the proceeds from the financing to advance its pipeline of direct tumor targeting and immuno-stimulatory epigenetic inhibitors, which includes its two wholly-owned, clinical-stage lead programs: a bromodomain and extra-terminal (BET) inhibitor as well as an EZH2 inhibitor, targeting difficult-to-treat cancers. The financing was co-led by Topspin Partners and also included new money from several other well-known investment funds. Existing investors Third Rock Ventures, The Column Group, Venrock and SR One also invested in this round of financing.
"There is a huge unmet need to develop innovative treatments in oncology, and Constellation's epigenetics platform is truly unique and offers the potential to discover and develop drugs capable of targeting areas that until recently were not possible", said Leo Guthart, chairman of Topspin Partners. "Furthermore, the quality of Constellation Pharmaceuticals management team and advisory board, made up of some of the preeminent leaders in the epigenetics field, reinforces our conviction in our investment."
"We are thrilled to welcome such a great group of new investors into our company and we remain grateful for the strong ongoing support of our existing investors," said Keith Dionne, Ph.D., president and CEO of Constellation Pharmaceuticals. "It is our goal to be the premier company developing drugs that target epigenetic function and its role in disease biology. This financing is an affirmation of our goal to serve the unmet medical needs of patients."
About Constellation Therapeutics
Constellation Pharmaceuticals is a leader in epigenetics. The Company leverages insights from chromatin biology to discover and develop small molecule therapeutics for the treatment of cancer by targeting transcriptional pathways and acquired dependencies in tumor cells and by targeting immune cells to enhance their cancer fighting abilities. In addition to the recent progression of its EZH2 inhibitor, CPI-1205, into the clinic, the company disclosed at the recent ASH convention in Orlando FL, that it has observed a number of objective responses in lymphoma patients being treated with its Phase 1 BET protein bromodomain inhibitor, CPI-0610, currently being evaluated in three Phase 1 clinical trials in the U.S. The company's innovative product discovery engine targets both enzymes that modify the dynamic structure of chromatin (writers and erasers) and other proteins that interact with chromatin (readers) to control gene expression. Restoration of normal gene expression through chromatin modulation by highly selective and specific inhibitors promises to be a powerful approach to the development of important new medicines against a broad range of diseases.
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