Bellicum, a pharmaceutical company focused on the treatment of prostate cancer, has raised $20m in a Series B financing round led by a consortium of life science investors.
The additional funding strengthens Bellicum’s balance sheet with $26m of committed capital, including a $6m award from the Cancer Prevention and Research Institute of Texas (CPRIT).
Current and new investors contributed to the round, including new investors James Brown, AVG Ventures, and Dennis Stone, MD, and Remeditex Ventures.
The new funding will be made available to the company in two equal tranches, with one-half, or around $10m, paid immediately. The balance will be paid upon initiation of the next phase of clinical trials for its two lead products, expected in the third quarter of 2012.
Bellicum plans to initiate a Phase 2 DeCIDe vaccine study in 2012. BPX-101 is a therapeutic cancer vaccine being developed for the treatment of patients with metastatic castrate resistant prostate cancer (mCRPC).
The product contains matured, prostate cancer antigen-expressing dendritic cells that have been modified to allow in vivo activation by a proprietary drug, AP1903, in order to induce a potent anti-cancer immune response.
The funding will be used to advance its lead CaspaCIDe and DeCIDe programmes through Phase 2 clinical development.
“Bellicum has advanced two exciting products into mid-stage development that address significant unmet medical need,” said Dennis Stone, MD, chief medical officer at Remeditex Ventures. “We believe the company is poised to become an important product innovator, addressing large market diseases in both oncology and immunology.”
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