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Peloton Therapeutics Completes $18 Million Series A Financing
Date:7/27/2011

DALLAS, July 27, 2011 /PRNewswire/ -- Peloton Therapeutics, Inc., an early-stage cancer drug discovery and development company, has announced the completion of an $18 million Series A financing.  Led by The Column Group and joined by Remeditex Ventures and Peter O'Donnell, Jr., the Series A funds supplement a recently awarded $11 million grant from the Cancer Prevention and Research Institute of Texas (CPRIT).

Peloton officials said the company will focus initially on advancing several well differentiated oncology programs, each of which has already yielded promising lead compounds with novel mechanisms of action. Peloton leveraged its close relationship with the University of Texas Southwestern Medical Center to in-license these programs, providing a kick-start to its internal research and development capabilities. Peloton's goal is to become a leading oncology company generating a sustainable pipeline of cancer therapies that are designed to enhance outcomes and treatment practices.  

The Company was founded by renowned scientist Steven L. McKnight, Ph.D., who is recognized as one of the world leaders in gene regulation based in part on his discovery of leucine zipper proteins. Dr. McKnight is Chairman of Biochemistry at UT Southwestern and holds the Distinguished Chair in Basic Biomedical Research and the Sam G. Winstead and F. Andrew Bell Distinguished Chair in Biochemistry. The high-throughput screening laboratory Dr. McKnight built at the medical center over the past decade has seeded the Peloton pipeline with a number of attractive compounds that are well positioned for lead optimization.

"Peloton has the potential to emerge as a top-notch cancer company, distinguished by its scientific rigor, drug discovery capabilities, and talented team," Dr. McKnight said. "Peloton is off to a strong start in advancing its therapeutic programs quickly and effectively."

Peloton's Board of Directors includes Nobel Laureate Michael S.
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SOURCE Peloton Therapeutics, Inc.
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