Nanotechnology Now





Heifer International

Wikipedia Affiliate Button


DHgate

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

Stanford breakthrough heralds super-efficient light-based computers: Light can transmit more data while consuming far less power than electricity, and an engineering feat brings optical data transport closer to replacing wires May 29th, 2015

Donuts, math, and superdense teleportation of quantum information May 29th, 2015

OSU researchers prove magnetism can control heat, sound: Team leverages OSC services to help confirm, interpret experimental findings May 29th, 2015

Two UCSB Professors Receive Early Career Research Awards: The Department of Energy’s award for young scientists acknowledges UC Santa Barbara’s standing as a top tier research institution May 29th, 2015

Investments/IPO's/Splits

Arrowhead to Present at Jefferies 2015 Healthcare Conference May 27th, 2015

Evident Thermoelectrics Acquires GMZ Energy: Investment Accelerates Launch Of Evident's Thermoelectric Modules For Waste Heat May 20th, 2015

Nanometrics Announces Live Webcast of Upcoming Investor and Analyst Day May 20th, 2015

PEN Inc. Announces First Quarter Financial Results: Investor Webcast and Business Update Set for May 21, 1 pm EDT May 13th, 2015

Nanomedicine

New chip makes testing for antibiotic-resistant bacteria faster, easier: Researchers at the University of Toronto design diagnostic chip to reduce testing time from days to one hour, allowing doctors to pick the right antibiotic the first time May 28th, 2015

Arrowhead to Present at Jefferies 2015 Healthcare Conference May 27th, 2015

Seeing the action: UCSB researchers develop a novel device to image the minute forces and actions involved in cell membrane hemifusion May 27th, 2015

Nanotechnology identifies brain tumor types through MRI 'virtual biopsy' in animal studies: If results are confirmed in humans, tumor cells could someday be diagnosed by MRI imaging and treated with tumor-specific IV injections; new NIH grant will fund future study May 27th, 2015

Announcements

Stanford breakthrough heralds super-efficient light-based computers: Light can transmit more data while consuming far less power than electricity, and an engineering feat brings optical data transport closer to replacing wires May 29th, 2015

Donuts, math, and superdense teleportation of quantum information May 29th, 2015

OSU researchers prove magnetism can control heat, sound: Team leverages OSC services to help confirm, interpret experimental findings May 29th, 2015

Two UCSB Professors Receive Early Career Research Awards: The Department of Energy’s award for young scientists acknowledges UC Santa Barbara’s standing as a top tier research institution May 29th, 2015

Appointments/Promotions/New hires/Resignations/Deaths

Janusz Bryzek Joins MEMS Industry Group to Lead New TSensors Division - New Division will Focus on Accelerating Development of Emerging Ultra-high Volume Sensors Supporting Abundance, mHealth and IoT May 14th, 2015

Carbodeon Appoints Leading Industry Expert as Advisory Board Member May 7th, 2015

Dais Analytic Corporation Appoints Eliza Wang to Board of Directors: Company's Newest Director Brings Expertise in Commercial and Legal Matters Both in the United States and China; Joins on the Heels of Successful Business Development Trade Mission to China April 18th, 2015

Nanion Technologies Appoints James Costantin as Director of Customer Relations: Nanion is pleased to announce the appointment of Dr. James Costantin as Director of Customer Relations at Nanion Technologies Inc. March 31st, 2015

Nanobiotechnology

New technique speeds nanoMRI imaging: Multiplexing technique for nanoscale magnetic resonance imaging developed by researchers in Switzerland cuts normal scan time from two weeks to two days May 28th, 2015

Seeing the action: UCSB researchers develop a novel device to image the minute forces and actions involved in cell membrane hemifusion May 27th, 2015

Nanotechnology identifies brain tumor types through MRI 'virtual biopsy' in animal studies: If results are confirmed in humans, tumor cells could someday be diagnosed by MRI imaging and treated with tumor-specific IV injections; new NIH grant will fund future study May 27th, 2015

Who needs water to assemble DNA? Non-aqueous solvent supports DNA nanotechnology May 27th, 2015

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