Le Lézard
Classified in: Health
Subject: TRI

Intezyne Closes Oversubscribed $10M Series A Financing to Drive Rapid Oncology Portfolio Development



TAMPA, Fla., Oct. 6, 2017 /PRNewswire/ -- Intezyne Technologies, a clinical-stage biopharmaceutical company developing novel anti-cancer therapies, announced that it closed an oversubscribed $10M Series A Preferred round lead by existing investor Gaston Capital Healthcare Fund (GCHF). As part of the financing, David K. Robb, President and Chief Operating Officer (COO) at Gaston Capital, and Glenn Walthall, Chief Investment Officer (CIO) at Gaston Capital, joined Intezyne's Board of Directors.

Intezyne currently has two clinical-stage programs: IT-139, a novel Cancer Resistance Pathway (CRP) inhibitor for the treatment of pancreatic, gastric and BRAF-mutated cancers (including BRAF-mutated melanoma, lung cancer and thyroid cancer) in combination with existing anti-cancer therapies, and IT-141, a novel topoisomerase I (TOP-I) inhibitor for the treatment of colorectal and breast cancers. IT-139 was previously granted an Orphan Drug Designation (ODD) in the treatment of pancreatic cancer, of the most challenging-to-treat and deadliest forms of cancer, with 1-year and 5-year survival rates of only 20% and 8%, respectively. Gastric (stomach) cancer, while relatively rare in the United States, remains the fifth most common cancer and second most frequent cause of cancer death worldwide, with a 5-year survival rate of patients with advanced gastric cancer of a meager 3%. Preclinical data in both indications, supported by a previously completed Phase 1 safety study, suggest that IT-139 could meaningfully improve patient outcomes.

"This successful financing round puts the company on solid footing as we advance IT-139 and IT-141 through Phase 1/2 trials," said CEO Dr. Kevin Sill. "With compelling data and robust development rationales in a variety of different indications, our ongoing challenge is deciding which indications to prioritize in order to bring these potentially promising therapies to both patients and physicians as expediently as possible."

"In the coming months, we will be seeking additional capital from respected healthcare-focused institutional investors in a soon-to-be-launched $30M Series B Preferred round," said CFO E. Russell McAllister. "The Series B Preferred round is designed to fully fund the company through multiple Phase 2 trials, which should generate the data necessary for one or more lucrative development and commercialization partnerships and, subsequently, a compelling initial public offering (IPO). In the interim, we thank both existing and new investors in the Series A Preferred round for their enthusiastic support of Intezyne."

CEO Dr. Kevin Sill added, "Russell and I will be attending two major industry conferences in order to meet with investors and potential strategic partners: the BIO Investor Forum in San Francisco on October 16-18 and BIO-Europe in Berlin on November 6-8. We welcome any interest that investors, strategic partners, academic collaborators and clinical investigators might have in learning about our development programs."

For more information, please visit the Company's website at www.intezyne.com.

Contact:



E. Russell McAllister, CFO


179461@email4pr.com, (813) 910-2120

 

SOURCE Intezyne Technologies, Inc.


These press releases may also interest you

at 16:50
VANCOUVER, Oct. 21, 2017 /CNW/ - For many Canadians, experiencing trauma has a major impact on their lives and plays a role in their problematic substance use. Sex and gender are also important factors in understanding and treating individuals for...

at 09:00
VANCOUVER, Oct. 20, 2017 /CNW/ - The Honourable Ginette Petitpas Taylor, Federal Minister of Health, will announce additional support for the BC Centre of Excellence for Women's Health through Health Canada's Substance Use and Addictions Program to...

at 09:00
VANCOUVER, Oct. 20, 2017 /CNW/ - The Honourable Ginette Petitpas Taylor, Federal Minister of Health, will mark the one-year anniversary of the Healthy Eating Strategy by highlighting the progress that has been made to date during her keynote address...

at 00:15
HUNTINGTON BEACH, Calif., Oct. 21, 2017 /PRNewswire/ -- Wavelengths Recovery was a proud sponsor of "Chasing the Dragon - Opioid Awareness Community Event" held on Oct. 18. This event was held at the City National Grove of Anaheim. Many members of...

20 oct 2017
VANCOUVER, Oct. 20, 2017 /CNW/ - The Honourable Ginette Petitpas Taylor, Federal Minister of Health, will announce additional support for the BC Centre of Excellence for Women's Health through Health Canada's Substance Use and Addictions Program to...

20 oct 2017
Product photos are available at http://bit.ly/2hSM8qr OTTAWA, Oct. 20, 2017 /CNW/ - Hen Long Oriental Gifts and Foods Co. Ltd. is recalling Captain's Choice brand Frozen Shrimp Shaomai from the marketplace because it contains egg which is not...




News published on 6 october 2017 at 08:30 and distributed by: