BiPar Sciences secures $5 million

By Elaine Rigoli

Tampa, Fla., June 14 - BiPar Sciences, Inc. said Wednesday that it has secured a $5 million venture debt commitment from Lighthouse Capital Partners.

The company said it plans to use the funding to accelerate and expand the clinical program for its lead compound, BSI-201, and move two additional compounds toward clinical development.

This new funding follows last year's series A funding to move BSI-201, a potential best in class compound in a new class of cancer therapies known as PARP (poly-ADP-ribose polymerase) inhibitors that selectively induces tumor cell death, into phase 1 clinical trials as a single agent for the treatment of solid tumor cancers.

BSI-201 is a targeted cancer therapy applicable across multiple patient populations based on preclinical data. Phase 1b trials are planned for later this year to evaluate BSI-201 in combination with other agents.

Based in Brisbane, Calif., BiPar is a clinical-stage biopharmaceutical company.

Lighthouse Capital Partners is a venture debt firm with investing offices in Menlo Park, Calif., and Cambridge, Mass.

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