Celtaxsys banks $45M for its cystic fibrosis drug

Atlanta-headquartered biotech Celtaxsys raised $45 million in Series D cash, plotting to kick off a Phase II study for its lead drug, an anti-inflammatory treatment for cystic fibrosis. The round, led by Domain Partners, gives Celtaxsys the funds it needs to advance CTX-4430, an oral drug designed to preserve lung function in CF patients. The company is also earmarking cash to complete an ongoing Phase II acne study. More