MALVERN, Pa.--(BUSINESS WIRE)-- Ceptaris Therapeutics, Inc., a privately held specialty pharmaceutical company, announced today that it has raised $10 million through a Series D-1 private placement of preferred stock. This financing includes prior investors, Vivo Ventures, Palo Alto Investors, Burrill & Company, Aperture Venture Partners, Osage and BioAdvance, plus new investor, Third Point, LLC.
"We believe that our proprietary mechlorethamine gel will be an important new treatment option and this latest round of financing provides Ceptaris additional capital for ongoing activities," said Stephen Tullman, President and CEO at Ceptaris. "We appreciate the commitment of all of our investors and welcome Third Point, LLC, a valued investor familiar with the management team from an earlier investment in Ception Therapeutics."
Prior to the financing, Ceptaris received a Complete Response Letter from the Food and Drug Administration (FDA) regarding the New Drug Application (NDA) for mechlorethamine gel for the treatment of early stage (stages I-IIA) mycosis fungoides, a type of Cutaneous T-Cell Lymphoma (CTCL). The Company is working with the FDA to address the Agency’s requests.
The funding will be used for operational expenses, including activities related to addressing the FDA’s requests.
About Ceptaris Therapeutics
Ceptaris Therapeutics, Inc. is a privately held, specialty pharmaceutical company that is developing a proprietary gel formulation of mechlorethamine hydrochloride for the treatment of early stage (stages I-IIA) mycosis fungoides, a type of Cutaneous T-Cell Lymphoma (CTCL). If approved, Ceptaris's investigational drug would be the first topical mechlorethamine product available to treat the signs and symptoms of this rare cancer. Please visit www.ceptaris.com for more information.
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