"Clinical advancement of our first-in-class CK2 inhibitor, CX-4945, in patients with multiple myeloma represents another major milestone for Cylene. Moreover, the accompanying financing enables us to support the clinical trials and the expansion of our pipeline with high quality candidates emerging from our internal drug discovery platform. The financing also illustrates the enthusiasm our investors have for CX-4945 and our highly original drug discovery platform," said Dr. William G. Rice, President and CEO of Cylene Pharmaceuticals.
"Our firm invests in companies that have the potential to lead innovations critical to the needs of patients, possess strong management expertise, perform novel proprietary science coupled with a mechanistic understanding of target diseases, and are capital-efficient with the potential to deliver substantial returns to shareholders. Cylene certainly fits these parameters," said Dr. Reinhard Ambros, Executive Director of the Novartis Venture Funds and Director of Cylene. "Cylene's clinical development efforts, led by Dr. Daniel Von Hoff, lead the industry in targeting CK2 with potent and selective inhibitors for the treatment of various forms of cancer. This combination of features makes Cylene an attractive and exciting investment."
About Cylene Pharmaceuticals
Cylene Pharmaceuticals, Inc. is a San Diego-based, private biotechnology company discovering and developing targeted small molecule drugs to treat life-threatening cancers. Cylene's drug discovery platform, STAND (Selective TArgeting of Non-Oncogene Networks in Disease), has delivered a diverse portfolio of drug candidates that target the multiple pathways critical for the su
|SOURCE Cylene Pharmaceuticals, Inc.|
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