US-based Syndax Pharmaceuticals has secured a $26.6m Series B financing from investors including healthcare-focused venture capital firms Domain Associates, MPM Capital, Forward Ventures and Russia’s RusnanoMedInvest (RMI).
Syndax said it plans to use the proceeds to continue advancement of its late-stage pipeline of epigenetic-based combination therapies for treatment-resistant cancers
“Entinostat represents the most advanced clinical programme of an epigenetic therapy in solid tumors,” said Arlene Morris, Syndax’s chief executive officer. “We have a unique opportunity to help a patient population where safe and effective treatments capable of extending survival are needed desperately. The Series B financing enables us to continue to advance entinostat toward registration, where we believe the opportunity in breast cancer and lung cancer alone exceeds $2 billion.”
RMI is Russia’s and Eastern Europe’s largest venture capital firm specialising in innovative development medicine and pharmaceuticals. It was launched in March 2012 with initial funding – $380m.
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