Published: Sept 9, 2014 8:11 a.m. ET
HEADLINE2Funding to Support Novel COX-2 Inhibitor Development for Cancer
ST. LOUIS, Sep 09, 2014 (BUSINESS WIRE) -- Euclises Pharmaceuticals, Inc., a biotechnology company developing novel COX-2 inhibitors for the treatment of cancer, today announced closing a $1.3 million Series A financing. Founded by John Talley, one of the pioneers of selective cyclooxygenase-2 ("COX-2") inhibitors, Euclises will use proceeds from the financing to prepare its Euclicoxib® product candidates for clinical trials in cancer patients.
Euclises' Series A financing was led by Cultivation Capital, a St. Louis-based early-stage venture capital firm, and included participation by BioGenerator, Missouri Technology Corporation, ABC Laboratories, the St. Louis County Port Authority's Helix Fund and the St. Louis Arch Angels.
"The potential for COX-2 inhibitors to play a major role in cancer treatment and prevention has been appreciated since the early days of celecoxib," said John Talley, Ph.D., CSO of Euclises and inventor of celecoxib. "By overcoming the technical hurdles encountered with previous generations of this class of drugs, Euclises is in a position to unlock the full power of these compounds for the treatment of cancer."
"Euclises' goal is to treat the right patient with the right drug at the right dose and dramatically improve the outcome for that patient," said Rajesh Devraj, Ph.D., CEO of Euclises. "Preclinical testing suggests that our proprietary Euclicoxibs® build on the clinically validated anti-tumor activity shown for older COX-2 inhibitors, without the dose-limiting safety concerns of the older drugs. Our investors recognize the value of this approach and have partnered with us to advance our lead candidate."
"Euclises' development program capitalizes on the deep COX-2 and oncology experience possessed by the company's team of industry veterans," said Rick Ryan, Ph.D. of Cultivation Capital. "Cultivation is thrilled to be working with them to focus this experience on the battle against cancer."
Joining Drs. Talley, Devraj and Ryan on the Euclises Board of Directors are Charles Bolten from BioGenerator, Robert Calcaterra, Ph.D., President of the St. Louis Arch Angels, and Robert Beardsley, Ph.D., Executive Chair at Galera Therapeutics, Inc.
Euclises Pharmaceuticals, Inc. (Euclises) is a drug discovery and development company focused on novel cyclooxygenase-2 (COX-2) inhibitors for use in the oncology setting.Euclises has developed a portfolio of COX-2 inhibitors optimized for cancer treatment based on its proprietary Euclicoxib® platform and is in the process of selecting a lead clinical development candidate.The company is currently headquartered within the BioGenerator Accelerator Labs at CORTEX.For more information, visit the Euclises website at www.euclises.com.
SOURCE: Euclises Pharmaceuticals, Inc.
Euclises Pharmaceuticals, Inc.
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