Healthcare Industry News: Ception Therapeutics
News Release - May 31, 2007
Ception Therapeutics Raises Additional $14.7 Million Bringing Total Series C Financing to $77 MillionMALVERN, Pa.--(HSMN NewsFeed)--Ception Therapeutics, Inc., an emerging biopharmaceutical company discovering and developing novel biologic and small-molecule agents to address unmet medical needs, today announced that it has raised an additional $14.7 million, bringing the total of private equity raised this year through a Series C private placement of preferred stock to $77 million.
Participants included existing investors Third Point LLC and Greenlight Capital.
"The support we've received from our current investors provides validation of our business model and the value of Ception's portfolio of assets," said Steve Tullman, President and CEO of Ception Therapeutics. "This additional strategic capital provides an extended financial runway for our lead biologic program, as well as our other development and discovery programs. We are delighted that our current investors decided to provide additional capital to the company."
About Ception Therapeutics, Inc.
Ception Therapeutics is an emerging biopharmaceutical company focused on the discovery and development of novel products to address areas of unmet medical need. The Company's pipeline includes a late-stage biologic agent in clinical development for multiple inflammatory conditions, a small molecule anti-TNF program and other discovery programs. Ception Therapeutics pursues new drug targets in these and other disease areas through a proprietary thermodynamics-based rational drug design platform. For further information, visit www.ceptiontx.com.
Source: Ception Therapeutics
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