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3-V Biosciences Completes $20 Million Series C Financing
Date:6/21/2013

MENLO PARK, Calif., June 21, 2013 /PRNewswire/ -- 3-V Biosciences, Inc., a biopharmaceutical company developing therapeutics that modulate key pathways in oncology and infectious disease, today announced the completion of a Series C financing round, raising $20 million. Proceeds from the financing will be used to advance 3-V's lead oncology candidate into a Phase 1 clinical trial and to conduct ongoing preclinical studies of multiple virology leads generated by the company's integrated drug discovery process. Existing investors Kleiner Perkins Caufield & Byers and New Enterprise Associates participated in the round.

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"I am very pleased by the recognition of our efforts and continued support from our existing investors," said Merdad Parsey, M.D., Ph.D., Chief Executive Officer of 3-V Biosciences. "3-V takes an integrated approach to building its pipeline by applying our proprietary screening methodology combined with our expertise in medicinal chemistry, drug discovery and development to generate proprietary therapeutic candidates that target key pathways in oncology and infectious diseases. Our lead oncology candidate has demonstrated compelling anti-tumor activity in pre-IND studies and with the funds from our Series C, we look forward to advancing into the clinic later this year."

3-V's lead molecule is one of a series of novel fatty acid synthase (FASN) inhibitors initially being developed to treat solid tumor cancers. FASN over-expression is associated with aggressive disease and poor prognosis in a number of cancers. In a series of preclinical studies, 3-V has demonstrated potent activity against multiple tumor types, including lung, breast, prostate and colon cancers. In addition, 3-V has demonstrated potential
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