Aescap Venture investeert in Italiaans biotechbedrijf
ON TRACK TO ACHIEVE AN AMBITIOUS GOAL
EOS S.p.A. (Ethical Oncology Science) today announced that it has closed a 12.2 million (US$ 17 million) Series A preferred stock financing with the entry of a new investor, the AESCAP Venture I Fund. This follows the completion of the first tranche of 8.2 million (US$ 10 Million) in March 2009, which was subscribed by Sofinnova Partners and Quantica SGR. EOS has therefore completed its financing plan, which foresees the initiation of clinical studies for two innovative targeted cancer therapies, E-3810 and the HDAC inhibitor E-162, which have the potential to become differentiated best-in-class treatments for prevalent cancers.
Silvano Spinelli, Founder, Chief Executive and Chairman of EOS, said. 'We are on track to achieve our ambitious goal of initiating clinical studies for two very promising targeted therapeutics in the next six months. These novel molecules act on specific molecular defects which cause tumors and their successful development could offer substantial benefit to patients. We are confident we have identified a clear and clinically feasible route for gaining clinical proof-of-concept for E-3810, which could represent a new breakthrough, due to its dual inhibition of the VEGF and FGF receptors. The preclinical development of E-162 is well advanced, following the successful completion of our synthesis and screening campaign.
Silvano Spinelli, Founder, Chief Executive and Chairman of EOS, said. 'We are on track to achieve our ambitious goal of initiating clinical studies for two very promising targeted therapeutics in the next six months. These novel molecules act on specific molecular defects which cause tumors and their successful development could offer substantial benefit to patients. We are confident we have identified a clear and clinically feasible route for gaining clinical proof-of-concept for E-3810, which could represent a new breakthrough, due to its dual inhibition of the VEGF and FGF receptors. The preclinical development of E-162 is well advanced, following the successful completion of our synthesis and screening campaign.