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NEW HAVEN, Conn., June 20, 2019 (GLOBE NEWSWIRE) -- Cybrexa Therapeutics, a biotechnology company developing a new class of cancer therapeutics through its alphalex™ tumor targeting platform, today announced the completion of a $13.4 million Series B1 financing.
This brings the company’s total capital raised to date to $21.1 million. Cybrexa’s existing investors – CT Innovations, HighCape Capital Special Opportunities Fund, and Cycle Venture Partners – all participated in the round. Proceeds from the financing will be used to advance Cybrexa’s first clinical candidate CBX-11 (alphalexTM-rucaparib) into clinical development and to progress additional programs in its preclinical pipeline.
“This level of financial support from our investors demonstrates the continued enthusiasm and validation for our innovative, proprietary alphalex™ platform technology,” said Per Hellsund, President & CEO of Cybrexa. “We look forward to advancing our lead candidate, CBX-11, into the clinic by the first quarter of 2020 as well as further developing additional new therapeutic candidates leveraging our alphalex™ technology, which we believe has the transformative potential to improve tumor response and overall survival while limiting toxicity.”
About the alphalex™ Technology Platform
The Cybrexa alphalex™ technology platform enables the delivery of small molecules across the cell membrane under low pH conditions, which is a universal feature of cancer cells. As a result, alphalex™ technology – which consists of a novel peptide, linker and small molecule anti-cancer agent – allows for antigen-independent, intracellular delivery of small molecule anti-cancer agents directly into the tumor cell. View a video of the mechanism of action of the technology at http://www.cybrexa.com/our-technology/.
Cybrexa is a privately-held biotechnology company dedicated to developing an entirely new class of cancer therapies using its alphalex™ platform to deliver anti-cancer agents directly into tumor cells. The Company’s lead candidate, CBX-11 (alphalex™-rucaparib), is in preclinical development with advancing plans to initiate clinical development by 1Q 2020. Cybrexa was founded by physician-scientists, and has an experienced management team that has built numerous successful life sciences companies and raised hundreds of millions of dollars in venture capital. For more information about Cybrexa, please visit www.cybrexa.com.
The Ruth Group