By Jennifer Chiou
New York, June 21 - AmpliMed Corp. announced the completion of a $5 million series B preferred private placement.
Led by Biotech Insight Ventures, investors included InvestBio Ventures, Valley Ventures and Solstice Capital.
"The fact that our investors continue to support AmpliMed underscores their commitment to our clinical development program and our pipeline of anti-cancer therapies," said Robert A. Ashley, chairman, president and chief executive officer of AmpliMed, in a news release.
"This is an exciting time for the company as our Amplimexon clinical development program is expanding rapidly and we plan to bring additional new drugs into clinical trials in the near future."
AmpliMed recently began a multi-center Phase I/II study to evaluate the safety and effectiveness of a combination of gemcitabine and Amplimexon in previously untreated patients with advanced pancreatic adenocarcinoma.
Amplimexon, also known as an imexon injection, a cyanoaziridine compound, is involved in lung cancer, melanoma and breast cancer studies.
The Tucson, Ariz., company specializes in developing oncology drugs and has now raised more than $14 million in financing.
| Issuer: | AmpliMed Corp.
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| Issue: | Series B preferred stock
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| Amount: | $5 million
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| Investors: | Biotech Insight Ventures (lead), InvestBio Ventures, Valley Ventures, Solstice Capital
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| Announcement date: | June 21
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