Kalypsys reaps $100 million in third round

Kalypsys has raised $100 million in its third round of venture capital. Tavistock Life Sciences, one of Kalypsys' previous investors, led the round with an $89 million contribution. Previous investors Sprout Group, CMEA Ventures and KT Venture Group participated in the round. The financing increases the total private equity that Kalypsys has raised to $172 million since February 2002. Kalypsys' pipeline includes KD3010 for metabolic disorders. Other compounds in the pipeline nearing the clinical stage include KD7040, a treatment for neuropathic pain and KD5170, a treatment of hematologic and solid tumors. Kalypsys was a 2004 Fierce 15 company.

"We combined two studies into one to establish a more complete safety profile of KD3010 that will guide our dose selection in the second trial," said Paul Grint, M.D., Kalypsys' chief medical officer. "The innovation in our trial design is another aspect of our approach to expediting the development of medicines. Our speed in the discovery stage carries over to the development stage, which can significantly reduce the costs associated with the traditional development of small molecule drugs."

- here's the release on the round