Sialix Closes Oversubscribed Second Tranche of Series B Financing
- Financing led by New England-based syndicate of angel investors;
- Brings Series B total to $4 million
Cambridge, Massachusetts, February 5, 2014 – Sialix, Inc., a biotechnology company developing products for the treatment and prevention of cancer, today announced the closing of an oversubscribed $1.2 million tranche of an angel-led financing. The investors included members of the following New England-based angel investor groups: Boston Harbor Angels, Mass Medic Angels, Launchpad Angels, Maine Angels, Beacon Angels and Desert Angels (Tuscon, AZ) as well as other undisclosed individuals.
"We are thrilled to have built strong relationships with the New England angel investor community who have played a central role in our financings to date," said Jeff Behrens, Sialix's CEO. "Building a biotech company today is challenging, and at this stage we have chosen to maintain a lean structure that can be supported with angel funding. It is terrific and validating to get such strong support from a wide variety of angel groups."
"Jeff has done a great job setting the direction for Sialix" said Richard Anders, Founder and Executive Director of Mass Medical Angels, "We are very excited about the work they are doing in developing therapeutic antibodies targeting tumor associated glycans to address the multi-faceted challenges of cancer, and pleased to be part of this investment round."
About cancer-associated glycans
Cancers consistently modify glycans (polysaccharides) on the surface of tumor cells. These cancer-associated glycans play important roles in tissue invasion and metastases, and are attractive targets for antibody therapeutics. Glycan targets are highly cancer specific, densely expressed, present on multiple cell surface proteins, and driven by well-described genetic changes in cancer cells. Cancer associated glycans are seen on multiple solid tumor types including breast, ovarian, colon, lung, and prostate. Sialix uses a proprietary platform to enable the rapid development of pharmaceutical quality, highly specific, high-affinity antibodies to target these glycans and offer patients the potential for an entire class of novel treatments that will significantly affect the course of the disease.
About Sialix, Inc.
Sialix, Inc is developing therapeutic antibodies targeting glycan alternations in cancer. Sialix operates as a "semi-virtual" company with offices in Cambridge, MA and a laboratory in San Diego, CA. In 2012 Sialix signed a partnership agreement with Momenta Pharmaceuticals and in early 2013 entered the Janssen Labs biotechnology incubator in San Diego, close to founder Dr. Ajit Varki's lab at UCSD. Sialix has licensed a broad patent portfolio from UCSD and assembled a team of industry veterans and glycobiology experts to support the development of these products. The company is headquartered in Cambridge, Massachusetts. Learn more at www.sialix.com
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