Healthcare Industry News: Third Rock Ventures
News Release - June 6, 2011
Constellation Pharmaceuticals Raises $15 Million in Additional FundingCAMBRIDGE, Mass.--(Healthcare Sales & Marketing Network)-- Constellation Pharmaceuticals, Inc., a leading biopharmaceutical company in the field of epigenetics, today announced that it has raised $15 million in a Series B extension financing. All major current investors participated in the round, including Third Rock Ventures, The Column Group, Venrock Associates, SR One and Altitude Life Science Ventures. Constellation is focused on the discovery and development of small molecule therapeutics against chromatin-based targets to treat cancer and inflammatory/immunologic disorders. Proceeds from this round of financing will allow the company to continue to advance product candidates in its portfolio toward clinical development.
“This financing reflects the enthusiasm of our investors for the excellent progress that Constellation has made in discovering and developing compelling drug candidates derived from its broad platform of capabilities applied to multiple classes of epigenetic targets,” said Mark A. Goldsmith, M.D., Ph.D., president and chief executive officer of Constellation Pharmaceuticals. “The recent additions to our R&D leadership team and achievement of key internal development milestones mark our clear transition to a product focus and accelerate our trajectory toward the clinic. This additional funding enables us to continue leveraging our expertise in chromatin biology to expand our growing product pipeline, and it provides strategic flexibility as we execute our overall development and business plans.”
About Constellation Pharmaceuticals
Constellation Pharmaceuticals leverages insights from the rapidly expanding field of epigenetics to discover and develop small molecule therapeutics for the treatment of cancer, inflammatory/immunologic disorders and other diseases. Research at Constellation and by others has shown that abnormal epigenetic regulation of gene expression contributes to many different diseases. The company’s innovative product discovery engine targets both the enzymes that modify the dynamic structure of chromatin and other proteins that interact with chromatin to control gene expression. Restoration of normal gene expression through chromatin modulation by highly selective and specific inhibitors promises to be a powerful avenue for the development of important new medicines against a broad range of diseases. For more information, please visit the company's website at www.constellationpharma.com.
Source: Constellation Pharmaceuticals
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