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OncoEthix raises $19m in SV Life Sciences-led Series B

8 Jul 2013

swiss alps_lrgVenture capital firm SV Life Sciences (SVLS) has led a CHF18m ($19m) Series B round for Swiss oncology drug development company OncoEthix.

The round was also backed by new investor Edmond de Rothschild Investment Partners with participation from existing backers Index Ventures and Endeavour Vision.

The company will use the proceeds to progress its BET bromodomain inhibitor, OTX015, into Phase II proof of concept studies.

OTX015 is an orally administered synthetic small molecule which targets BET bromodomain proteins, which are considered potential cancer targets.

SVLS managing partner Kate Bingham said, “OncoEthix is focused on developing first-in-class drugs that can improve and extend the lives of patients with neoplastic diseases. OTX015 has made excellent progress so far and we believe that it has the potential to be a very important new drug.”

Earlier this year SVLS strengthened its management team by appointing Darren Black as managing partner and Tom Flynn as partner.

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