New York, Oct. 6 - Serenex, Inc. said it raised $30 million in a series C private placement of preferred stock.
Ritchie Capital was the lead investor. Other participants included existing investors Intersouth Partners, Lilly Ventures, Mediphase Venture Partners, Takeda Research Investment and Seaflower Ventures.
Devin Hosea, director of Ritchie Capital's biotechnology venture group, will join Serenex's board.
"We are extremely pleased to have Ritchie Capital join our existing group of investors in our series C round," said Richard Kent, Serenex's chief executive officer and president, in a news release.
"This investment validates our strategy of building an integrated discovery and development oncology company by combining our emerging pre-clinical pipeline with late-stage clinical assets. This round of financing provides us with the resources to add to our development team, advance SNX-1012 through phase II and move our internally developed novel Hsp90 inhibitor into phase I."
Serenex, a Durham, N.C., drug company focused on oncology, also said that it has licensed worldwide rights to develop and commercialize SNX-1012 for chemotherapy and radiation-induced oral mucositis from Mucosal Therapeutics, LLC. Oral mucositis "is one of the most debilitating adverse events related to cancer treatment, yet options for treatment are currently limited," the company said.
| Issuer: | Serenex, Inc.
|
| Issue: | Series C preferred stock
|
| Amount: | $30 million
|
| Investors: | Ritchie Capital (lead), Intersouth Partners, Lilly Ventures, Mediphase Venture Partners, Takeda Research Investment, Seaflower Ventures
|
| Announcement date: | Oct. 6
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
