Bangalore: Atlanta based clinical stage drug development company focused on developing novel therapies for inflammatory diseases, Celtaxsys, Inc, completes $40 million in series D financing led by Domain Partners VIII. The round of funding was also participated by investors including Lumira Capital, RMI Partners, Masters Capital Management and the Georgia Research Alliance Venture Fund.
As part of the funding, Nicole Vitullo – Partner, Domain Associates, Gerry Brunk – Managing Director, Lumira Capital and Maxim Gorbachev – Partner, RMI Partners will be joining the Celtaxsys’ board of directors. The new round of funding will be utilized to support the completion of an ongoing Phase 2 trial in patients with moderately severe acne vulgaris, with top line results expected by the end of first quarter 2016.
Speaking about the funding, Greg Duncan, President & CEO, Celtaxsys says, “The proceeds from this financing, led by top-tier biotechnology investors, speaks to the investment community’s support for developing innovative anti-inflammatory medicines for patients diagnosed with orphan diseases. We believe CTX-4430’s ability to reduce neutrophil elastase in the airways of CF patients has the potential to preserve lung function in CF patients, irrespective of patient-specific CF gene mutation.”
Incorporated in 2005, William P. Reddick, Celtaxsys is a privately held drug discovery and development biopharmaceutical company through regulation of immune cell migration and activation. Building a sustainable pipeline of first in class immuno-modulators, the firm is focused on advancing treatments for serious inflammatory diseases, including cancer.
Today, the company has advanced drug candidates which are shown to be effective in several CF related, pre-clinical and clinical models and has been well tolerated in healthy volunteers and CF patients. A clinical-stage development company, Celtaxsys is located in Atlanta, GA with a subsidiary office in Brisbane, Queensland, Australia.