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Phosplatin Therapeutics Announces $37 Million Series A Financing

Phosplatin Therapeutics Announces $37 Million Series A Financing

12/14/21, 8:00 AM
Money raised
$37 million
Round Type
series a
Phosplatin Therapeutics Inc., a clinical stage pharmaceutical company focused on oncology therapeutics, today announced that it has completed a $37 million Series A financing. The round was led by Adinvest AG and included participation from existing investors, including the conversion of previously issued convertible notes.

Company Info

Company
Phosplatin Therapeutics
Additional Info
Phosplatin Therapeutics Inc. is a privately held, clinical stage pharmaceutical company that holds exclusive global license to phosphaplatins, a family of small molecules rationally designed to circumvent the mechanisms of drug resistance and toxicity commonly associated with chemotherapeutic regimens. The company's lead candidate, PT-112, is a novel chemical entity under clinical development that exhibits a unique combination of properties, including immunogenic cell death and osteotropism. Clinical data generated to date across three Phase 1 studies have demonstrated single-agent anti-cancer activity and an attractive tolerability profile, and two Phase 2 studies of PT-112 are underway. The company's research and development work to date has spanned sixteen countries and been funded by private investors and family investment offices in the United States, Europe and Asia, along with a sub-license agreement for the development, commercialization and use of PT-112 in Greater China. The company also sponsors the ongoing clinical study of PT-112 in combination with the PD-L1 inhibitor avelumab under a collaboration agreement with Pfizer and Merck KGaA, Darmstadt, Germany (operating as EMD Serono in the US and Canada), and has an active cooperative research and development agreement (CRADA) with the NCI to explore the use of PT-112 in thymic epithelial tumors.