Karyopharm Therapeutics Raises $10 Million More in Series A Round
11/2/2011 6:43:08 AM
NATICK, Mass., Nov. 2, 2011 /PRNewswire/ -- Karyopharm Therapeutics Inc., a leader in the new field of nuclear transport modulators, has completed a $10M Series A2 financing which complements the $20M Series A financing announced one year ago. Both Series A and A2 were lead by Chione Ltd. This brings the total raised by the Company to approximately $32M since its inception. The funds will be used to expand the planned Phase I program, targeted to begin in mid 2012 with Karyopharm's oral selective inhibitors of nuclear export(SINE) for various cancers. The Company is also evaluating related transport modulators for use in dermatologic, inflammatory, and viral disorders.
Michael Kauffman, MD, PhD, Karyopharm's CEO, remarked, "This funding shows the confidence our investors have in our progress and platform. With these additional resources, we are able to move our oral clinical SINE compound for oncology into Phase I studies in both hematologic and solid tumor malignancies. The oral bioavailability and preliminary tolerability of the compounds allow us to investigate these agents for indications outside of cancer, including autoimmune, inflammatory and viral disorders. We look forward to bringing the first SINE therapeutic to patients with cancer in the coming year."
Karyopharm is the leader in the development of nuclear transport modulators for the treatment of cancer, autoimmune, dermatologic, and viral diseases. These SINEs act by forcing the nuclear localization of major tumor suppressor and growth regulatory proteins, causing selective death of cancer cells while sparing normal cells. The Karyopharm platform, utilizing rapid chemical optimization with integrated computational/in silico rational drug design, has yielded multiple novel active small molecule SINEs, which have shown activity in a variety of animal models.
Karyopharm is a biopharmaceutical company leading the development of small molecule modulators of nuclear transport. The Company was founded by Drs. Sharon Shacham, Michael Kauffman, Giulio Draetta and Ronald DePinho in 2008. Karyopharm completed a $20M Series A financing in October, 2010. The Company has won several grants/awards including a Biotech Investment Award by the Multiple Myeloma Research Foundation in 2010. Karyopharm's first program is directed towards the Selective Inhibition of Nuclear Export its SINE program targeting CRM1, the major nuclear export protein. By inhibiting the nuclear export of tumor suppressor proteins, Karyopharm's drug candidates force the activation of the cell's key tumor suppressor and anti-inflammatory pathways including p53, p21, pRB, FoxO, and the inhibitor of NF-kB (i.e., IkB). Karyopharm anticipates entering the clinic in 2012 with its first oral SINE compound for the treatment of various cancers. The Company is also evaluating the use of SINE in autoimmune, viral and dermatologic disorders. Karyopharm Therapeutics is located in Natick, Massachusetts.
Contact: Michael Kauffman, +1-508-975-4821, email@example.com
SOURCE Karyopharm Therapeutics Inc.