BiPar Sciences, Inc. Raises $35 Million to Advance Pipeline of Novel PARP Inhibitor Cancer Drug Candidates

BRISBANE, Calif., Feb. 26 /PRNewswire/ -- BiPar Sciences, Inc., a privately held biopharmaceutical company developing novel cancer therapies, announced today that it has raised $35 million in a series B financing led by Domain Associates, LLC. Existing investors Vulcan Capital, Canaan Partners, PolyTechnos Venture-Partners, Asset Management Company and Quantum Technology Partners also participated in the round. BiPar also announced that Jesse Treu, a partner at Domain Associates, and Wende Hutton, a venture partner at Canaan Partners, have joined the board of directors.

BiPar is developing multiple compounds designed to inhibit PARP 1 (poly- ADP-ribose polymerase), an enzyme that is crucial to cell repair and upregulated in certain tumors. The round fully funds the Company's robust Phase 2 program for its lead drug candidate, BSI-201, and accelerates development of two additional drug candidates from BiPar's pipeline.

"Domain's investment in BiPar clearly serves as a further endorsement of the company's overall potential and our ability to develop new PARP inhibitor drugs for cancer, particularly given Domain's outstanding track record of investing in successful biotechnology companies," said Thomas F. White, BiPar's president and chief executive officer.

"PARP inhibitors are an emerging new class of cancer therapies based on a potent target and therefore represent a promising investment opportunity for us," said Treu. "This financing enables BiPar to develop a pipeline of exciting new drug candidates with potential applicability across a broad range of cancers, utilizing a genomics-driven clinical program that targets tumor types where the greatest therapeutic value can be achieved."

About BiPar Sciences

>>> Discuss This Story BiPar Sciences Inc. (www.biparsciences.com) is a clinical-stage biopharmaceutical company developing and commercializing a novel class of tumor-selective drugs designed to meet the significant unmet needs of cancer patients. The Company's lead product candidate is BSI-201, which is now in early-stage clinical testing for advanced malignancies. The Company will be evaluating the potential of BSI-201 in multiple cancers and expects to file investigational new drug applications on as many as two additional cancer drug candidates in early 2008.

Source: BiPar Sciences, Inc.

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