Yale spin-off Kolltan Pharmaceuticals has raised $60 million to advance its cancer treatment through clinical trials, according to a Form D filing with the Securities and Exchange Commission. The drug developer sees potential for the drug across breast, lung and ovarian cancers. It also sees the drug as reducing the risk of patients showing resistance to the treatment in advanced stages of the dosing cycle.
Kolltan’s lead drug targets the HER3 receptor for tyrosine kinase, interfering with the signal that directs the growth of cancer cells. The drug is part of a group referred to as cancer growth blockers.
Last year the company licensed a drug from AstraZeneca’s biologics arm, MedImmune, to go after tyrosine kinase. At that time it said it expected to begin Phase 1 clinical trials in the first quarter of 2014.
When Investment Rhymes with Canada
Canada has a proud history of achievement in the areas of science and technology, and the field of biomanufacturing and life sciences is no exception.
Among the company’s backers are Purdue Pharma, HBM BioCapital, Celtic Therapeutics Management, Tichenor Ventures and Osage University Partners.
The biotechnology company was founded in 2007 in collaboration with the laboratory of Dr. Joseph Schlessinger, the chairman of the Department of Pharmacology at the Yale School of Medicine.
