Nanotechnology Now

Our NanoNews Digest Sponsors

Heifer International

Wikipedia Affiliate Button

Home > Press > Cerulean Pharma Inc. Closes $10 Million Series B-1 Financing

Abstract:
Company Appoints Acting Chief Medical Officer, John Ryan, to Advance Clinical Trial with Lead Nanopharmaceutical Product Candidate

Cerulean Pharma Inc. Closes $10 Million Series B-1 Financing

Cambridge, MA | Posted on July 28th, 2009

Cerulean Pharma Inc., a biopharmaceutical company focused on novel intelligently designed nanoparticle-based drugs, today announced that it has closed a $10 million Series B-1 financing. Existing venture investors Polaris Venture Partners of Waltham, MA, Venrock of New York, NY, Lux Capital of New York, NY, and Bessemer Venture Partners of Wellesley, MA all participated in the financing round.

Cerulean intends to use the proceeds from the financing to advance the clinical development of IT-101, a cyclodextrin-based camptothecin nanoparticle recently in-licensed from Calando Pharmaceuticals, Inc., and to accelerate the preclinical development of nanoparticle-based drugs using both Cerulean's pre-existing nanoparticle-based technology as well as the in-licensed cyclodextrin-based nanoparticle technology. The cyclodextrin-based nanoparticle technology was originally developed at the California Institute of Technology and is being accessed by the Company through its license from Calando.

"We believe that Cerulean has the potential to transform the efficacy and safety of drugs based on advancements in nanotechnology. The ability to generate multiple competitively advantaged product candidates based on the original Cerulean nanotechnology platform creates a compelling value proposition which has been further strengthened by the in-licensing of the cyclodextrin platform and IT-101 as a clinical stage drug candidate," said Alan Crane, Chairman of Cerulean's Board of Directors and General Partner of Polaris Venture Partners.

In conjunction with its planned clinical advancement of IT-101, Cerulean also announced the appointment of John Ryan, Ph.D., M.D. to serve in a consulting role as Acting Chief Medical Officer, effective immediately. Dr. Ryan has more than 20 years of experience in clinical research and development at Wyeth, the former Genetics Institute, and Merck Research Laboratories. Most recently, Dr. Ryan served as Chief Medical Officer at AVEO Pharmaceuticals, Inc., in Cambridge, MA where he focused on building a clinical group for the development of oncology drugs. Prior to working in clinical development in the pharmaceutical industry, Dr. Ryan held Associate Professorships at both the University of Pennsylvania School of Medicine and Yale University School of Medicine. He holds a Ph.D. in Molecular Biophysics from Yale University and an M.D. from the University of California at San Diego.

"The financing and the appointment of Dr. Ryan will assist us in advancing IT-101 well into clinical development. We also expect to progress additional nanopharmaceuticals with the potential to substantially improve therapeutic utility over existing cancer chemotherapies, thus proving that our platform can be used as an engine for generating product candidates," said Dr. Oliver Fetzer, President and CEO of Cerulean.

####

About Cerulean Pharma
Cerulean Pharma Inc. is a privately-held biopharmaceutical company focused on the development of novel nanotechnology-based therapeutics in the areas of oncology, cardiovascular, autoimmune and inflammatory diseases. The Company has assembled a world-class management team, board of directors and scientific advisory board that collectively have a significant track record of business building, product development and scientific breakthroughs from companies and institutions such as Cubist, GlaxoSmithKline, Merck, Millennium Pharmaceuticals, Inc., Pfizer, Wyeth, the Massachusetts Institute of Technology, Harvard Medical School, MD Anderson, Fox Chase Cancer Center and the Arizona Health Center. The company has been funded by leading investors Polaris Venture Partners, Venrock, Lux Capital, Bessemer Venture Partners, Alexandria Real Estate Equities, and William H. Rastetter. Cerulean is located in Cambridge, Massachusetts.

For more information, please click here

Contacts:
Yates Public Relations
Kathryn Morris, 845-635-9828

Copyright © Business Wire

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

News and information

In borophene, boundaries are no barrier: Rice U., Northwestern researchers make and test atom-thick boron's unique domains July 17th, 2018

Tuning into quantum: Scientists unlock signal frequency control of precision atom qubits July 16th, 2018

Nano-kirigami: 'Paper-cut' provides model for 3D intelligent nanofabrication July 13th, 2018

UMBC researchers develop nanoparticles to reduce internal bleeding caused by blast trauma July 13th, 2018

Investments/IPO's/Splits

Nanometrics to Participate in the 10th Annual CEO Investor Summit 2018: Accredited investor and publishing research analyst event held concurrently with SEMICON West and Intersolar 2018 in San Francisco June 28th, 2018

180 Degree Capital Corp. to Provide Live Remote Access to Its Annual Meeting of Shareholders on June 12, 2018 June 12th, 2018

Nanometrics Updates Time of Webcast at Stifel 2018 Cross Sector Insight Conference June 12th, 2018

Arrowhead Pharmaceuticals to Present at Upcoming June 2018 Conferences May 31st, 2018

Nanomedicine

Nano-kirigami: 'Paper-cut' provides model for 3D intelligent nanofabrication July 13th, 2018

UMBC researchers develop nanoparticles to reduce internal bleeding caused by blast trauma July 13th, 2018

Researchers identify cost-cutting option in treating nail fungus with nanotechnology: GW researcher Adam Friedman, M.D., studied the potential use of nitric oxide-releasing nanoparticles to improve onychomycosis treatment July 11th, 2018

New sensor technology enables super-sensitive live monitoring of human biomolecules July 3rd, 2018

Announcements

In borophene, boundaries are no barrier: Rice U., Northwestern researchers make and test atom-thick boron's unique domains July 17th, 2018

Tuning into quantum: Scientists unlock signal frequency control of precision atom qubits July 16th, 2018

Nano-kirigami: 'Paper-cut' provides model for 3D intelligent nanofabrication July 13th, 2018

UMBC researchers develop nanoparticles to reduce internal bleeding caused by blast trauma July 13th, 2018

Appointments/Promotions/New hires/Resignations/Deaths

Jim Barnhart Joins Nanometrics as Senior Vice President of Operations March 15th, 2018

Jonathan Chou to Join Nanometrics as Chief Financial Officer February 26th, 2018

Ocean Optics Grows Sales Organization with Executive Appointments: Henry Langston promoted, Christine Stannard joins spectral sensing product developer December 23rd, 2017

Emmanuel Sabonnadiere is Letiís New CEO November 28th, 2017

Nanobiotechnology

UMBC researchers develop nanoparticles to reduce internal bleeding caused by blast trauma July 13th, 2018

Researchers identify cost-cutting option in treating nail fungus with nanotechnology: GW researcher Adam Friedman, M.D., studied the potential use of nitric oxide-releasing nanoparticles to improve onychomycosis treatment July 11th, 2018

New sensor technology enables super-sensitive live monitoring of human biomolecules July 3rd, 2018

Arrowhead Presents New Clinical Data on ARO-AAT at Alpha-1 National Education Conference July 1st, 2018

NanoNews-Digest
The latest news from around the world, FREE



  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More











ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project