SOUTH SAN FRANCISCO, Calif., Jan. 4 /PRNewswire/ -- Novacea, Inc. announced today the closing of the second tranche of its Series C financing. Proceeds to the Company totaled over $25 million. Participants in the fundraising included: Apax Partners, Domain Associates, New Enterprise Associates, ProQuest Investments, Versant Ventures and Sofinnova Ventures.
The Company will use this additional funding primarily to launch its Phase 3 clinical trial with DN-101 in advanced prostate cancer. The trial (ASCENT-2) is set to begin enrolling patients during the first quarter of 2006. ASCENT-2 will be conducted at over 150 clinical sites in the United States and Canada. Dr. Howard Scher, Chief, Genitourinary Oncology Service and D. Wayne Calloway Chair in Urologic Oncology of Memorial Sloan-Kettering Cancer Center, New York, USA will serve as study chair. Dr. Ronald De Wit of Erasmus University, Rotterdam, The Netherlands and Dr. Kim Chi of Vancouver Cancer Centre, Vancouver, British Columbia, Canada will serve as co-chairs.
About Novacea
Novacea, Inc. is a privately held biopharmaceutical company focused on licensing, developing and commercializing novel agents to revolutionize the treatment of cancer. Novacea’s in-licensed product portfolio features three clinical stage oncology therapeutics. The Company has two products which are anticipated to commence Phase 3 clinical trials in 2006, DN-101 and vinorelbine oral. Banoxantrone (AQ4N) is in Phase 1/2 clinical trials. For more information, visit www.novacea.com.
CONTACT: Nina Ferrari Senior Director Investor and Corporate Relations +1-650-228-1804
Novacea, Inc.
CONTACT: Nina Ferrari, Senior Director, Investor and Corporate Relations,of Novacea, Inc., +1-650-228-1804
Web site: http://www.novacea.com//