BioClin Therapeutics Completes $50 Million Series B Financing with Addition of New Investors
(San Leandro, California, May 9, 2018) BioClin Therapeutics, Inc., a clinical stage drug
development company developing a first-in-class anti-FGFR3 (fibroblast growth factor
receptor 3) monoclonal antibody for metastatic bladder cancer, announced today
expansion of its Series B financing to $50 million to broaden its clinical development
activities. New investors, Sectoral Asset Management and INKEF Capital, joined existing
investors Sofinnova Ventures, Ysios Capital, HealthCap, Tekla Capital Management
funds, and Life Sciences Partners (LSP) in the round. Since its founding, the company
has raised a total of $79 million.
The proceeds from this financing will be used to advance the company’s lead
development candidate, B-701, for the treatment of patients with metastatic bladder
cancer, or metastatic urothelial carcinoma (mUC). “This financing supports our Phase 2
trials evaluating B-701 both as a single agent, as well as in combination with
pembrolizumab and separately with docetaxel. We anticipate completing enrollment in
these Phase 2 studies by the second half of 2018, with initial data expected by yearend,”
said Stephen Lau, CEO of BioClin Therapeutics.
“We are delighted that Sectoral Asset Management and INKEF Capital have joined the
BioClin investor syndicate. The additional funding will allow the Company to move
forward with the only targeted biologic specific for FGFR3 in clinical development for
bladder cancer,” said David Kabakoff of Sofinnova and board member of BioClin
Therapeutics.
About BioClin Therapeutics, Inc.
BioClin Therapeutics, Inc. is a privately-held clinical stage biotechnology company
developing biologics to address medical conditions in areas of high unmet need. The
company is focused on FGFR3 (fibroblast growth factor receptor 3), a driver mutation in
metastatic bladder cancer and potentially other cancers. The company’s lead program,
B-701, is the only targeted biologic specific for FGFR3 in clinical development. BioClin
has ongoing clinical studies in metastatic bladder cancer including B-701 monotherapy,
and B-701 in combination with standard-of-care chemotherapy, as well as with
pembrolizumab, an immune checkpoint inhibitor.
For more information, please visit BioClin’s website: www.bioclintherapeutics.com
Forward-Looking Statement:
This press release contains forward-looking statements about the business and prospects
of BioClin Therapeutics, Inc., which involve risks and uncertainties, including, without
limitation, statements about the timing and plans to conduct clinical trials of B-701 in
mUC. These risks and uncertainties include, among others: timing of enrollment in and
results of the clinical trials; safety of B-701 alone or in combination with other therapies;
the content and timing of decisions by the U.S. Food and Drug Administration, the
European Commission and other regulatory authorities concerning B-701. Such
statements are subject to certain risks and uncertainties, particularly those inherent in
the process of developing and commercializing drugs. The company’s forward-looking
statements also involve assumptions that, if they prove incorrect, would cause its results
to differ materially from those expressed or implied by such forward-looking statements.
BioClin is under no obligation, and expressly disclaims any obligation to update or alter
any forward-looking statement, whether as a result of new information, future events or
otherwise.
Contact:
Stephen Lau
Chief Executive Officer
info@bioclintherapeutics.com
Source: BioClin Therapeutics
