Drug Research
Drug Discovery & Development

Constellation Pharmaceuticals raises $100m financing to advance multiple clinical trials

Published 10 April 2018

Constellation Pharmaceuticals, a clinical-stage biopharmaceutical company developing tumor-targeted and immuno-oncology therapies, has raised a $100m financing.

New investors include Cormorant Asset Management, Deerfield Management, Fidelity Management and Research Company, Hillhouse Capital, NS Investment, OrbiMed, Sirona Capital, and Venrock Healthcare Partners.

Current investors, including The Column Group, Third Rock Ventures, Venrock, SROne, University of California Investment Office, Topspin Partners, and Casdin Capital, also participated in the financing.

Constellation Pharmaceuticals president and CEO Jigar Raythatha said: “We are thrilled to welcome this new group of high-quality investors, and we are grateful for the continued support from our existing investors. Their strategic guidance and financial support will be instrumental to help accomplish our goal of improving outcomes for cancer patients.

“This financing gives us additional flexibility and runway to pursue the clinical development of CPI-1205 and CPI-0610, our lead product candidates, as well as advance other novel molecules from our cancer epigenetics platform into development.”

The company plans to utilize the proceeds of this financing to advance multiple clinical trials across its portfolio.

Specifically, the ongoing ProSTAR and ORIOn-E trials are designed to demonstrate the potential for CPI-1205 to enhance the effectiveness of current-generation androgen inhibitors in metastatic castration-resistant prostate cancer and cancer immunotherapies in other solid tumors, respectively.

The company also plans to progress CPI-0610, a clinical-stage candidate, as a treatment for myelofibrosis either as a monotherapy or in combination with a JAK inhibitor.

Additionally, Constellation Pharmaceuticals plans to advance its second-generation EZH2 program into the clinic and identify more experimental therapies derived from its epigenetics discovery platform.

Source: Company Press Release