Navigation Links
Sopherion Therapeutics Secures $55 Million in Series C Funding
Date:2/19/2009

PRINCETON, N.J., Feb. 19 /PRNewswire/ -- Sopherion Therapeutics, LLC, a biopharmaceutical company focused on the development and commercialization of anti-cancer therapies, has announced a $55 million Series C financing. The financing was led by Zoticon Bioventures, a global drug development and healthcare investment firm.

The company will use the funding to complete the pivotal Phase III clinical development program for its lead product candidate, Myocet(TM). Myocet is a liposomal formulation of doxorubicin designed to reduce the risk of cardiotoxicity while preserving antitumor efficacy.

In January 2008, Zoticon Bioventures in-licensed Myocet and provided funding of $20 million to Sopherion and subsequently led an additional $35 million raise during 2008. Proceeds are to fund Sopherion and complete its global, registrational trial of Myocet in combination with trastuzumab and paclitaxel vs. trastuzumab and paclitaxel for first-line therapy of patients with metastatic breast cancer. Additional investors in the $35MM round include TL Ventures, New Leaf Venture Partners/Sprout Group, ProQuest Investments, Canaan Partners, Devon Park Bioventures, Commerce Bank and NewSpring Capital.

"This funding is an important milestone for Sopherion and represents continued validation for Myocet, which we believe has the potential to become the standard of care for patients with advanced breast cancer when used in combination with trastuzumab and paclitaxel," said Ronald H. Goldfarb, Ph.D., President and CEO of Sopherion Therapeutics. "Zoticon's experience in biotech is a great asset for us, and we look forward to continuing to work closely together."

"Zoticon is very excited to be involved with Sopherion and the Myocet program in North America. This investment underscores our strong, continued belief in the significant advances the company is contributing to the field of oncology and to addressing significant unmet medical needs," said Asher Nathan, Managing Director of Zoticon and Chairman of the Board, Sopherion Therapeutics, LLC.

About Sopherion Therapeutics, LLC

Sopherion Therapeutics, LLC is a privately-held biotechnology company based in Princeton, New Jersey. The Company is focused on developing novel anti-cancer therapies for patients suffering from advanced cancer, particularly metastatic disease. Sopherion is dedicated to the acquisition, discovery, development and commercialization of novel anti-cancer therapies with unique therapeutic activities that address unmet medical needs in and extend human life. In 2004, Sopherion entered into an exclusive licensing agreement with Zeneus Pharma Ltd., now Cephalon, Inc. for the future commercialization of Myocet in North America. For more information, visit www.sopherion.com.

About Zoticon Bioventures

Zoticon is a privately held global drug development and healthcare investment firm with a portfolio of life-sciences-focused companies. Zoticon's business model is to in-license novel therapeutics, and continue their clinical development. For more information, visit www2.zoticon.com.


'/>"/>
SOURCE Sopherion Therapeutics, LLC
Copyright©2009 PR Newswire.
All rights reserved

Related biology technology :

1. Sopherion Therapeutics, LLC Announces Publication of Phase I/II Myocet(R) (Nonpegylated Liposomal Doxorubicin) Data in Advanced Breast Cancer Patients
2. Vicus Therapeutics to Present at the 234th American Chemical Society National Meeting in Boston, MA
3. DJO Incorporateds Pending Merger With ReAble Therapeutics Clears U.S. Antitrust Review
4. PeriCor Therapeutics Announces Closing of Licensing Agreement for Acadesine with Schering-Plough Corporation
5. Systems Medicine (SM), a Subsidiary of Cell Therapeutics, Inc. (CTI), Announces Execution of CRADA with NCI/NIH to Develop Potential Cancer Treatments Targeting the Insulin Growth Factor (IGF) Pathway
6. Amsterdam Molecular Therapeutics to Release H1 2007 Results on August 29, 2007
7. Nektar Therapeutics Appoints Tim Harkness as Chief Financial Officer
8. ExonHit Therapeutics: Allergan and ExonHits First Collaboration Compound to Begin Human Clinical Trials
9. Cell Therapeutics, Inc. Takes Corrective Actions in Response to Nasdaq Determination
10. Amsterdam Molecular Therapeutics Reports Half Year Results 2007
11. Nektar Therapeutics Appoints Lutz Lingnau as New Board Member
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/9/2016)... , ... February 09, 2016 , ... The American ... organization’s history, it is offering its 2016 AAT Member Certification Qualification Course for Technicians ... curriculum for the webinar, which will include a detailed review of hardware, software, and ...
(Date:2/9/2016)... , Feb. 9, 2016 This market ... the current and future prospects of the market in ... report include companies engaged in the manufacture of microbiology ... executive summary with a market snapshot providing the overall ... of this report. This section also provides the overall ...
(Date:2/9/2016)... Feb. 9, 2016 ... 2016", report provides in depth insights on ... around the Protein-Tyrosine Phosphatase 1B (PTP1B) Inhibitors. ... in various stages of development including Discovery, ... III and Preregistration. Report covers the product ...
(Date:2/8/2016)... 2016 --> ... innovation-driven oncology company developing next generation cancer therapeutics ... announced that chairman emeritus of Tata Sons Limited, ... company as part of the first close of ... Navam Capital and Aarin Capital. http://photos.prnewswire.com/prnh/20150923/766442 ...
Breaking Biology Technology:
(Date:1/21/2016)... PUNE, India , January 21, 2016 /PRNewswire/ ... According to a new market research report "Emotion ... Learning, and Others), Software Tools (Facial Expression, Voice ... and Regions - Global forecast to 2020", published ... Market is expected to reach USD 22.65 Billion ...
(Date:1/15/2016)... SAN JUAN, Puerto Rico , Jan. 15, 2016 ... forcing companies big and small to find new ways ... data driven culture. iOS and ... their device based on biometrics, transforming it into a ... can request that users swipe their fingerprint on their ...
(Date:1/8/2016)... United Kingdom , Jan. 8, 2016   Bruin ... products, today announced the closing of a $9 million financing. ... from the financing will be used to accelerate the commercialization ... detecting early-stage pressure ulcers. United Kingdom ... CE Mark approval. The device,s introduction has been met with ...
Breaking Biology News(10 mins):