NEWS
Chroma Therapeutics Limited, a UK based biotechnology company focused on small molecule cancer and inflammation therapeutics, has completed a £15 million Series D financing round.
Oxford, 23 June 2009 - Chroma will use the funds to develop its aminopeptidase inhibitor, tosedostat (CHR-2797) into late-stage clinical studies in cancer, and to progress its macrophage-targeted HDAC inhibitor program for cancer, CHR-2845, towards clinical proof of concept.
In addition to participation from its existing leading venture capital backers comprising Abingworth Management, Essex Woodlands Healthcare Ventures, Gilde Healthcare, Nomura Phase4 Ventures and The Wellcome Trust, the Series D round included a significant investment by GlaxoSmithKline, linked to the collaboration with Chroma on its ESM technology, announced separately today.
Ian Nicholson, Chief Executive Officer of Chroma, commented: “We are delighted to have concluded this substantial financing round in a very challenging investment climate. In the three years since its previous financing, Chroma has built a strong and broad pipeline of first-in-class and best-in-class oncology product candidates in addition to a highly novel and innovative technology platform. The funds raised in the Series D round will enable Chroma to progress these programs towards key clinical data.”
About Chroma Therapeutics
Chroma Therapeutics, based in Oxford (UK), is a drug discovery and development company focused in the fields of oncology and inflammatory disorders. Chroma is building a broad pipeline of first- or best-in-class treatments utilising its expertise in chromatin biology and its novel intracellular accumulation technologies, which include the ability to selectively target drugs macrophages. Chroma is backed by a number of leading specialist investors, including Abingworth, Essex Woodlands, Gilde, Nomura Phase4 and The Wellcome Trust.
More information about Chroma can be found at www.chromatherapeutics.com.
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