Biosight Raises $19M in Series C Funding to Support Clinical Stage Oncology Programs
Summary
The new capital will advance the clinical development of Biosight’s lead asset BST-236 (aspacytarabine), currently being investigated in a Phase 2b study as a single-agent, first-line treatment of acute myeloid leukemia (AML). “The increase of our investor base as well as the continued support from our existing shareholders are testaments to the potential of BST-236 as an important new therapy to cancer patients with limited therapeutic options. With this funding we are well positioned to complete enrollment of our ongoing Phase 2b trial in patients with AML, and to advance BST-236 to additional indications to address the unmet needs in the treatment of patients who are currently medically unfit to receive intensive chemotherapy.” Dr. David Sidransky of IBF said, “The encouraging interim data presented at the 2019 ASH Annual Meeting bolster our confidence in the ability of BST-236 to serve as a safer and more tolerable chemotherapy agent. Cytarabine serves as the backbone of AML therapy for over 40 years due to its superior efficacy, however, it is associated with severe bone marrow, gastrointestinal, and neurological toxicities, which significantly limit its use, especially in older and medically compromised patients. Due to its unique kinetics and metabolism, BST-236 is designed to enable high-dose therapy with lower systemic exposure to free cytarabine and relative sparing of normal tissues.