San Diego-based VentiRx Pharmaceuticals has rounded up $25 million in a Series A Extension to bring its total first round of VC funding to $51.8 million. It was MedImmune Ventures, the VC arm of AstraZeneca's MedImmune, that led the round.
VentiRx is developing a portfolio of Toll-like receptor 8 (TLR8) drug candidates. VTX-2337 for oncology is nearing completion of Phase I studies, with Phase II trials expected to start this year. VTX-1463 for allergic rhinitis. VTX-2337 is already through Phase I in healthy volunteers, as well as a Phase Ib study in allergic patients. When data from the Phase Ib study is available, VentiRx will decide how to proceed with the drug's clinical development. The company plans to use this latest round of funding to support mid-stage trials of both candidates.
"We view this as the last financing we'll need before liquidity at VentiRx, whether it comes through an acquisition, an IPO, or a Big Pharma partnership," Michael Kamdar, the company's CEO, tells Xconomy.
- see the release from VentiRx
- take a look at the Xconomy article