San Diego-based Cylene Pharmaceuticals has gained $44 million in its third round of venture funding. HBM BioVentures (Cayman) and Lilly Ventures led the round, which provides funds for the clinical advancement of small molecule cancer therapies. Much of that money will be used to pay for Phase II studies of CX-3543 in several different cancer indications and to advance two more products into development. CX-3543, Cylene's treatment of multiple cancers, acts as a Ribosomal RNA Biogenesis Inhibitor by targeting a Protein:DNA interaction that is amplified in cancer cells during Pol I transcription of the rRNA genes.
- here's the release on the venture round
Cylene closes $26.3M round. Report
Biotech venture funding jumped in '06. Report