Date: 2013-07-08
Type of information: Series B financing round
Company: OncoEthix (Switzerland)
Investors: SV Life Sciences (SVLS) (UK-USA) Edmond de Rothschild Investment Partners (France) Index Ventures (Switzerland) Endeavour Vision (Switzerland)
Amount: 18 Million CHF (€ 14.5 million)
Funding type: series B financing round
Planned used: The proceeds will be used to progress OncoEthix’ novel BET bromodomain inhibitor, OTX015, into Phase II proof of concept studies.
Others: * On July 8, 2013, OncoEthix, the Swiss-based specialist in oncology drug development, has announced that it has closed a Series B financing raising 18 Million CHF (~US$19 Million). SV Life Sciences (SVLS) led the financing, joined by new investor Edmond de Rothschild Investment Partners. Existing investors including Index Ventures and Endeavour Vision also participated in the round.
The proceeds will be used to progress OncoEthix’ novel BET bromodomain inhibitor, OTX015, into Phase II proof of concept studies. This orally administered synthetic small molecule targets BET bromodomain proteins 2/3/4. The BET proteins are considered potential cancer targets because of their pivotal role in regulating the transcription of growth-promoting and cell cycle regulators, especially c-MYC. A two strata Phase 1 study in acute leukemia and other hematologic malignancies started in January 2013.
As a result of the investment, Dr Michael G Carter, Venture Partner with SVLS will join OncoEthix’ Board of Directors. In addition, Dr Thierry Hercend has been appointed as an independent expert to OncoEthix.
Therapeutic area: Cancer - Oncology
