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

Nanoparticles could allow for faster, better medicine: Exposure of nanoparticles in the body allows for more effective delivery November 20th, 2017

ICN2 researchers compute unprecedented values for spin lifetime anisotropy in graphene November 17th, 2017

Math gets real in strong, lightweight structures: Rice University researchers use 3-D printers to turn century-old theory into complex schwarzites November 16th, 2017

The stacked color sensor: True colors meet minimization November 16th, 2017

Investments/IPO's/Splits

Nanometrics to Participate in the 6th Annual NYC Investor Summit 2017 November 16th, 2017

180 Degree Capital Corp. Leads Investment in TheStreet, Inc.; Investment Enables Removal of Capital Structure Overhang November 14th, 2017

Arrowhead Pharmaceuticals Reports Inducement Grants under NASDAQ Marketplace Rule 5635(c)(4) October 23rd, 2017

Arrowhead Hosts Investor & Analyst R&D Day to Introduce TRiM(TM) Platform and Lead RNAi-based Drug Candidates September 14th, 2017

Nanomedicine

Nanoparticles could allow for faster, better medicine: Exposure of nanoparticles in the body allows for more effective delivery November 20th, 2017

Nanobiotix presented new clinical and pre-clinical data confirming NBTXR3ís significant potential role in Immuno-Oncology at SITC Annual Meeting November 14th, 2017

Arrowhead to Present at 29th Annual Piper Jaffray Healthcare Conference November 14th, 2017

A new way to mix oil and water: Condensation-based method developed at MIT could create stable nanoscale emulsions November 8th, 2017

Announcements

Nanoparticles could allow for faster, better medicine: Exposure of nanoparticles in the body allows for more effective delivery November 20th, 2017

ICN2 researchers compute unprecedented values for spin lifetime anisotropy in graphene November 17th, 2017

Math gets real in strong, lightweight structures: Rice University researchers use 3-D printers to turn century-old theory into complex schwarzites November 16th, 2017

The stacked color sensor: True colors meet minimization November 16th, 2017

Appointments/Promotions/New hires/Resignations/Deaths

Nanometrics Board of Directors Names Pierre-Yves Lesaicherre President and CEO November 14th, 2017

180 Degree Capital Corp. Appoints Investment Banking Veteran Parker Weil to Its Board of Directors August 2nd, 2017

Nanometrics Announces Retirement Plans of CEO Timothy Stultz: Dr. Stultz to Continue as Director May 25th, 2017

180 Degree Capital Corp. Announces the Start of Kevin Rendino as Chairman and Chief Executive Officer and Completion of its Transition to a Registered Closed-End Fund March 31st, 2017

Nanobiotechnology

Nanoparticles could allow for faster, better medicine: Exposure of nanoparticles in the body allows for more effective delivery November 20th, 2017

Nanobiotix presented new clinical and pre-clinical data confirming NBTXR3ís significant potential role in Immuno-Oncology at SITC Annual Meeting November 14th, 2017

Arrowhead to Present at 29th Annual Piper Jaffray Healthcare Conference November 14th, 2017

Nanoshells could deliver more chemo with fewer side effects: In vitro study verifies method for remotely triggering release of cancer drugs November 8th, 2017

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



  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoTech-Transfer
University Technology Transfer & Patents
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More











ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project