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July 29, 2008

Celator Secures $22.5M to Advance Phase II AML Drug

  • Celator Pharmaceuticals reports that it has raised over $22.5 million in a Series C private equity financing. All Series B investors including Domain Associates, Ventures West, Quaker BioVentures, TL Ventures, GrowthWorks Capital, and BDC Capital participated in the financing.

    The proceeds will be used to fund Phase II studies of CPX-351 in patients with acute myeloid leukemia. The company expects to start enrolling newly diagnosed, elderly patients before the end of this year.

    “These funds will allow us to conduct additional clinical trials and generate data that we believe will enable strategic partnerships with leading biotech and pharmaceutical companies,” remarks Scott Jackson, CEO.

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