INDIANAPOLIS, Jan. 5 /PRNewswire/ -- Semafore Pharmaceuticals, Inc. today announced completion of an approximately $9.5 million Series B equity financing. Proceeds from the financing will be used to advance Semafore’s clinical program for SF1126, its lead PI3 Kinase inhibitor for the treatment of cancer, to further develop the company’s pipeline of agents targeting the PI3K and PTEN pathway, and for general corporate purposes.
Both existing and new investors participated in the series B financing. Semafore also was awarded almost $4 million in peer-reviewed grants during the past year from Indiana’s 21st Century Research and Technology Fund, the Cancer Treatment Research Foundation and the Multiple Myeloma Research Foundation.
“This is an exciting time for Semafore, as we prepare to initiate Phase l clinical trials of our lead PI3 Kinase inhibitor SF1126 and transition into a clinical stage company,” said John Sima, interim CEO and COO of Semafore. “The capital raised from our investors together with the grant proceeds from the State of Indiana and key foundations enable us both to accelerate the clinical program for SF1126 and to further develop our pipeline of drug candidates targeting the PI3K and PTEN pathway.”
Ron Henriksen, chairman of Semafore’s Board of Directors, added, “With these new funds in hand and the start of our clinical program for SF1126, we believe that the company is well positioned to advance our current programs and to take advantage of new strategic opportunities. We appreciate the continuing support of our investors and grantors, and feel fortunate to be located in a region that has provided us with both rich life sciences resources and financial support. Indiana has been named by Battelle Memorial Institute as one of the top three life sciences regions in the nation, partly as a result of the emergence of successful young companies like Semafore.”
About Semafore
Semafore is an Indianapolis-based drug discovery and development company focused on small molecule modulators of the PI3 Kinase (PI3K) and PTEN cell signaling pathway, one of the most promising target pathways for multiple disorders, including the company’s focus, cancer. Semafore is one of the first biopharmaceutical companies to focus on both PI3K and PTEN and has successfully discovered and is developing a portfolio of drug candidates. The company is preparing to initiate clinical trials for its lead clinical candidate, PI3K inhibitor SF1126. Semafore has also discovered the first drug-like small molecule PTEN modulators for cancer therapy, cell protection and therapeutic angiogenesis. For more information see the company’s website at http://www.semaforepharma.com.
This press release does not constitute an offer to sell, or solicitation of an offer to buy any security or other interest in the enterprise described herein. It is provided for informational purposes only, and is not a solicitation of any investment, monetary or otherwise.
Contacts: Semafore Pharmaceuticals, Inc. Media: Derek A. Small Barbara Lindheim Business Dev. & Regulatory Affairs GendeLLindheim BioCom Partners (317) 876-3075 (212) 918-4650
Semafore Pharmaceuticals, Inc.
CONTACT: Derek A. Small, Business Dev. & Regulatory Affairs of SemaforePharmaceuticals, Inc., +1-317-876-3075; Barbara Lindheim, GendeLLindheimBioCom Partners, +1-212-918-4650
Web site: http://www.semaforepharma.com/
