Just a year after raising less than $4 million in its first round, Atlanta-based Metastatix put together a $35 million B round to advance its lead program for cancer along with research into new therapies for inflammation and HIV infection. Frazier Healthcare led the round and was joined by a group of investors that included H.I.G. Ventures, The Aurora Funds, CM Capital, SR One, MedImmune Ventures, Georgia Venture Partners, Centrosome Ventures and the State of Georgia.
Metastatix has a pipeline of small molecule drugs in development. Its lead program is MSX-122, which it describes as a "potent inhibitor of the chemokine receptor CXCR4, which is activated by stromal derived factor-1 (SDF-1). The interaction between SDF-1 and CXCR4 has been shown to promote chemotaxis and angiogenesis in multiple cancer cell types."
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ALSO: VantagePoint Venture Partners has signed on as the lead investor in Xcellerex's $31 million third round. Xcellerex, based in Marlborogh, MA, says it will use much of that money to develop its proprietary manufacturing system for developing an internal pipeline of drug candidates. Release
Xcellerex gains $11M in new venture funds. Report