South San Francisco-based KAI Pharmaceuticals--a 2006 Fierce 15 company--has landed a $35 million Series B, primarily for the development of its protein kinase C therapeutics. KAI Pharmaceuticals' lead product, KAI-9803, is a selective delta PKC inhibitor designed to reduce ischemia and reperfusion injury as an adjunct to current treatments for acute myocardial infarction. The company recently completed enrollment of a 150 patient Phase I/II clinical trial for KAI-9803.
"This financing, at an increased valuation, and funding from our recent collaboration with Daiichi-Sankyo, position the company to meet its primary development goals, including the filing of an IND for at least one program each year through 2008," said Steven P. James, president and CEO of KAI Pharmaceuticals.
- here's the release on KAI's second round