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Phosplatin Therapeutics Completes $18.4 Million Private Financing Round

Phosplatin Therapeutics Completes $18.4 Million Private Financing Round

08/26/20, 11:08 AM
Location
https://purecatamphetamine.github.io/country-flag-icons/3x2/US.svgnew york
Money raised
$18 million
 Phosplatin Therapeutics LLC, a clinical stage pharmaceutical company focused on oncology therapeutics, today announced the completion of an oversubscribed $18.4 million private financing round. Participation included new and existing investors, inclusive of family offices from the US, Europe and Asia-Pacific, and high net worth individuals.

Company Info

Company
Pt 112
Location
new york, new york, united states
Additional Info
PT-112 is the first small molecule conjugate of pyrophosphate developed in oncology therapeutics. PT-112 promotes immunogenic cell death (ICD), or the release of damage associated molecular patterns (DAMPs) that lead to downstream immune effector cell recruitment in the tumor microenvironment. PT-112 represents a potential best-in-class small molecule inducer of this immunological form of cancer cell death, and is under Phase 2 development. The first-in-human study of PT-112 demonstrated an attractive safety profile and evidence of long-lasting responses among heavily pre-treated patients, and won "Best Poster" at the ESMO 2018 Annual Congress within the Developmental Therapeutics category. The novelty of its pyrophosphate moiety also results in osteotropism, or the propensity of the drug to reach the mineralized bone. This property is of interest in cancer types that originate in bone, or frequently lead to metastatic bone involvement, such as metastatic castrate-resistant prostate cancer (mCRPC). The first human clinical results in mCRPC were presented at the 2020 Genitourinary Cancers Symposium.