Celtaxsys raises $40M in Series D funding

What does Celtaxsys do?

Celtaxsys, is a clinical stage drug development company. this biopharmaceutical company, engages in developing and testing drug compounds for treating cancer, autoimmune and inflammatory diseases. The company’s technology manipulates immune cell migration which is used for treating inflammations, cancer and organ or tissue rejection. The company’s drug compounds are designed for blocking the protective mechanisms created by some tumors for preventing attack by the immune system cells.

How much Celtaxsys was funded?

Celtaxys raised $40M in Series D funding on June 8, 2015 from the investors Lumira Capital, Masters Capital Management, RMI Partners and the Georgia Research Alliance Venture Fund.

Previous funding

$2M in Debt Financing on May 7, 2009

$4.2M in Venture round on October 27, 2010

What is next for Celtaxsys?

Celtaxsys’s latest financing will be supplemented by a $5M grant from the Cystic Fibrosis Foundation Therapeutics, which is a non-profit drug discovery and development affiliate of the Cystic Fibrosis Foundation. This grant will help Celtaxsys’s Phase II trial assessing the efficacy and safety of its lead, CTX-4430, a once daily oral anti-inflammatory drug, for preserving lung function in cystic fibrosis patients.

CTX-4430 has been granted the Orphan Drug Designation in EU and USA. The latest funding will also help the company in completing its ongoing PhaseII trial in patients who are suffering from moderately severe acne vulgaris, with top line results expected by the end of first quarter of 2015.

This round of funding, speaks to the support of investment communities for developing innovative anti-inflammatory medicine for patients with orphan diseases.

More about Celtaxsys

Celtaxsys was founded in 2007 by William P. (‘Bill’) Reddick. It has its headquarters in Atlanta, GA. This is a private drug discovery and development company which focuses on advancing treatments for serious inflammatory diseases. It is building a sustainable pipeline of first in class immune modulators.