SINGAPORE, Oct. 20 /PRNewswire/ -- S*BIO Pte Ltd, a cancer therapeutics company, today announced the completion of a US$26 million Series B financing led by Bio*One Capital and new investor Aravis Venture. Additional new investors included the Lacuna Apo BioTech Fund advised by Adamant Biomedical Investments AG and Zurcher Kantonalbank (ZKB). S*BIO will utilize the proceeds to primarily fund the development efforts of its two lead compounds, SB939, a HDAC inhibitor, and SB1518, a JAK 2 inhibitor, both in Phase 1 clinical trials.
"We have been successful in attracting some of the top biotech investors in this round and we highly appreciate their enthusiasm, continued support and strong belief in our pipeline," said Dr. Jan-Anders Karlsson, CEO of S*BIO. "As part of the financing, we would like to welcome Jean-Philippe Tripet, Managing Partner of Aravis to our Board of Directors. Mr. Tripet, with his extensive knowledge and experience in the life sciences arena, is a valuable addition to the Board."
"This financing round is a recognition of the progress we have made in rapidly and effectively developing our compounds. We look forward to having our lead compounds tested in Singapore, U.S. and other international trial sites and advancing them further into Phase 2 development"
Ms. Swee Yeok Chu, CEO of Bio*One Capital said "S*BIO has made excellent progress in developing a proprietary pipeline of drug candidates with exciting profiles. The financing will allow the company to accelerate the clinical development of its promising anti-cancer agents."
SB939 belongs to a new class of targeted anti-cancer therapeutics
called histone deacetylase (HDAC) inhibitors. SB939 is designed to be a
"best-in-class" therapeutic amongst HDAC inhibitors being developed
worldwide, and has demonstrated the potential to bring additional
therapeutic benefits due to its high potency, superior oral availability
and good tolerability. SB939 is
|SOURCE S*BIO Pte Ltd|
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