Navigation Links
Cogentus Pharmaceuticals Completes $62.5 Million Private Financing

Funding Supports Phase 3 Program for Lead Product

MENLO PARK, Calif., Dec. 20 /PRNewswire/ -- Cogentus Pharmaceuticals Inc. announced today that it has completed a private placement financing, raising $62.5 million to support the clinical development of the company's novel antiplatelet therapy CGT-2168.


The Series C financing was led by the Keffi Group, with participation from Prospect Venture Partners, Ridgeback Capital, Apothecary Capital and Pinnacle Ventures. This represents the third round of equity financing for Cogentus, which is focused on developing novel combination medicines that significantly improve upon current treatment options in major therapeutic categories.

"Our experienced team has worked diligently to advance our lead development candidate, CGT-2168, and to initiate the global phase 3 clinical trial program that will be supported by these funds," said Cogentus President and Chief Executive Officer Mark A. Goldsmith, M.D., Ph.D. "Our goal for this program is to benefit patients by providing the next generation of safer antiplatelet medicines."

In addition, Jide Zeitlin, founder of the Keffi Group and former partner and global chief operating officer of investment banking of The Goldman Sachs Group, has been named to the Cogentus Board of Directors. He joins Donald Hayden, Jr., James Tananbaum, M.D., Robert Myers and Dr. Goldsmith on the board. Mr. Zeitlin also serves on the Board of Directors of Affiliated Managers Group, Coach, Inc. and is Chairman of the Board of Trustees of Amherst College.

"We are very pleased to welcome Jide onto our board," Dr. Goldsmith said. "His extensive experience in health care investment banking and his commercial relationships will add significant value as the company moves forward."

Cogentus has begun establishing sites and recruiting patients for the first phase 3 clinical trial of its lead compound CGT-2168. A combination medicine pairing clopidogrel (currently marketed by Bristol-Myers Squibb Co. and Sanofi-Aventis as Plavix(R)) with a gastroprotectant (omeprazole) in a single pill, CGT-2168 is designed to significantly reduce the gastrointestinal side effects commonly associated with dual antiplatelet therapy.

The phase 3 clinical trials, known as COGENT-1 and COGENT-2 (Clopidogrel and the Optimization of Gastrointestinal Events Trials), are expected to enroll approximately 4,000 patients at hundreds of sites in the United States, Canada, Europe and South America.

Antiplatelet therapy is an integral part of treating patients with acute coronary syndrome and has been shown to be effective in preventing major cardiovascular events. However, treatment with antiplatelet medicines -- including aspirin, clopidogrel, or a combination of the two -- is associated with gastrointestinal bleeding, which in some cases requires hospitalization and can even result in death.

"We believe that antiplatelet medicines are crucial in the treatment of cardiovascular disease but that their risks have been under-appreciated," Dr. Goldsmith said. "CGT-2168 may prove to be the first agent to offer a significant safety advantage for the many cardiac patients who require dual antiplatelet treatment."


Cogentus Pharmaceuticals Inc., of Menlo Park, CA, is a privately held specialty pharmaceutical company founded in 2006. Cogentus is committed to becoming a premier developer of innovative, fixed-dose combination prescription medicines serving unmet medical needs that drive significant commercial opportunities.

Cogentus was represented in the financing by O'Melveny & Myers LLP of Menlo Park, CA.

Plavix(R) is a registered trademark of Sanofi-Aventis.

SOURCE Cogentus Pharmaceuticals Inc.
Copyright©2007 PR Newswire.
All rights reserved

Related medicine news :

1. Arena Pharmaceuticals to Present at the NewsMakers in the Biotech Industry Conference
2. Schering-Plough/Merck Pharmaceuticals Announce FDA Filing Acceptance of New Drug Application for Loratadine/Montelukast Tablet
3. Provectus Pharmaceuticals, Inc. Begins Phase 2 Clinical Trial for Metastatic Melanoma
4. Idenix Pharmaceuticals to Present at Two Upcoming Investor Conferences
5. Vista Partners Updates Coverage on Tapestry Pharmaceuticals
6. Transcept Pharmaceuticals, Inc. to Present at UBS 2007 Global Life Sciences Conference
7. Crystal Research Associates, LLC Issues Executive Informational Overview(R) (EIO(R)) on Tapestry Pharmaceuticals, Inc.
8. Amylin Pharmaceuticals to Webcast Corporate Overview During 43rd Annual Meeting of the European Association for the Study of Diabetes
9. Major Pharma Clinical Case Studies From Amgen, AstraZeneca, GSK, Intermune, Cephalon Inc, Sunesis Pharmaceuticals and Dartmouth Medical School During Fall Clinical Focused Programs
10. Provectus Pharmaceuticals, Inc. releases summary results of phase 1 metastatic melanoma study
11. Class Settlement Could Result in Considerable Savings for Certain Consumers of Prescription Pharmaceuticals
Post Your Comments:
(Date:11/24/2015)... ... ... Bibliomotion is thrilled to announce the launch of UNCONVENTIONAL LEADERSHIP: ... Nancy M. Schlichting, Chief Executive Officer of Henry Ford Health System (November 24, ... patients and their families, shaped my desire to improve the system of care. I ...
(Date:11/24/2015)... ... November 24, 2015 , ... Dr. Kevin Day, local family chiropractor in ... less this holiday season. During the Indiana winter months, Vitamin D deficiency can ... team at AlignLife want to help provide the tools needed to combat it this ...
(Date:11/24/2015)... ... 2015 , ... All her life, Don Peck’s mother wondered if she was a descendant of ... been. After a 25-year search for information, Don and his aunt discovered that she ... name. Turns out, it was Don’s father who was descended from not one, but ...
(Date:11/24/2015)... (PRWEB) , ... November 24, 2015 , ... ... engineer of patented products, announces Fragrance by Marcelle, a cosmetic invention which offers ... Perfume & Fragrance Manufacturing Market in the US is worth $3 billion annually," ...
(Date:11/24/2015)... (PRWEB) , ... November 24, 2015 , ... ... of the Business Action on Health Awards, bestowed annually to the world’s best ... five commended companies at Global Health Council’s Landscape Symposium held in Washington D.C ...
Breaking Medicine News(10 mins):
(Date:11/24/2015)... -based Imprimis Pharmaceuticals, Inc. (NASDAQ: IMMY ) ... and dispensing of novel compounded pharmaceuticals.  The company,s ... ophthalmology, urology, sinus and integrative medicine.  Imprimis dispenses ... facilities located in California , ... Jersey and Pennsylvania.  For more information ...
(Date:11/24/2015)... NEW YORK , Nov. 24, 2015  Eyewear brand ... sunglasses in collaboration with U2 lead singer and activist Bono ... campaign to prevent vision impairment and blindness in more than ... --> Revo will donate $10 from the sale ... Visibility" collection, up to a total of $10 million to ...
(Date:11/24/2015)... Nov. 24, 2015 Xencor, Inc. (NASDAQ: ... antibodies for the treatment of autoimmune diseases, asthma and ... Dahiyat , Ph.D., president and chief executive officer, will ... , 2015 Piper Jaffray Healthcare Conference Date: Tuesday, December ... New York, NY     , Oppenheimer ...
Breaking Medicine Technology: