Healthcare Industry News: cutaneous T-cell lymphoma
News Release - February 21, 2012
Ceptaris Secures $15M in Venture Debt FinancingMALVERN, Pa.--(Healthcare Sales & Marketing Network)--Ceptaris Therapeutics, Inc., a privately held specialty pharmaceutical company, today secured $15 million in venture debt financing from Silicon Valley Bank and Oxford Finance.
The New Drug Application (NDA) for Ceptarisí drug candidate, mechlorethamine gel, is currently undergoing review by the U.S. Food and Drug Administration (FDA) for the treatment of early stage (stages I-IIA) mycosis fungoides, a type of cutaneous T-cell lymphoma (CTCL).
Ceptaris received $7.5 million at closing and has access to the remaining $7.5 million if the NDA is approved by the FDA. The funding will be used for ongoing operational expenses and preparation for commercialization of its investigational drug, mechlorethamine gel. Ceptarisí primary venture capital investors include Vivo Ventures, Palo Alto Investors, Burrill & Company, Osage Ventures, Aperture Venture Partners, and BioAdvance.
"We are very pleased with our venture debt relationships with both SVB and Oxford and the additional capital it provides Ceptaris for pre- and post-launch activities," said Stephen Tullman, President and CEO at Ceptaris. "Management has worked with both lending institutions in prior companies, including Ception Therapeutics and Vicept Therapeutics, and we look forward to continuing these relationships."
About Ceptaris Therapeutics
Ceptaris Therapeutics, Inc. is a privately held, specialty pharmaceutical company that is developing a proprietary gel formulation of mechlorethamine hydrochloride for the treatment of early stage (stages I-IIA) mycosis fungoides, a type of cutaneous T-cell lymphoma (CTCL). If approved, Ceptaris' investigational drug would be the first topical mechlorethamine product available to treat the signs and symptoms of this rare cancer. Please visit www.ceptaris.com for more information.
About Silicon Valley Bank
Silicon Valley Bank is the premier commercial bank for companies in the technology, life science, cleantech, venture capital, private equity and premium wine industries. SVB provides a comprehensive suite of financing solutions, treasury management, corporate investment and international banking services to its clients worldwide. Through its focus on specialized markets and extensive knowledge of the people and business issues driving them, Silicon Valley Bank provides a level of service and partnership that measurably impacts its clients' success. Founded in 1983 and headquartered in Santa Clara, Calif., the company serves clients around the world through 26 U.S. offices and international operations in China, India, Israel and the United Kingdom. Silicon Valley Bank is a member of global financial services firm SVB Financial Group (Nasdaq: SIVB ), with SVB Analytics, SVB Capital and SVB Private Bank. More information on the company can be found at www.svb.com.
About Oxford Finance
Oxford Finance is a specialty finance firm providing senior secured loans to public and private life sciences and healthcare services companies worldwide. For over 20 years, Oxford has delivered flexible financing solutions to its clients, enabling these companies to maximize their equity by leveraging their assets. In recent years, Oxford has originated over $1.5 billion in loans, with lines of credit ranging from $500 thousand to $50 million. Oxford is headquartered in Alexandria, Virginia, with additional offices in California, Illinois, Massachusetts and North Carolina. For more information visit www.oxfordfinance.com.
Source: Ceptaris Therapeutics
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