Cerulean Grabs $24M for Nano Drugs
Summary
Cambridge, MA-based Cerulean Pharmaceuticals has closed a $24 million Series C funding round to fuel development of its nanoparticle drugs, the company announced this morning.Oliver Fetzer, Cerulean’s chief executive, told Xconomy in this September 7 story that his firm was out hunting for financing.But the startup’s nanoparticles might be able to limit those side effects by keeping the agent concentrated in tumor cells and away from healthy tissues, Fetzer told me.Cerulean said today that it plans to advance CRLX101 into a randomized Phase II clinical trial for treating non-small cell lung cancer.“Cerulean’s nanopharmaceutical platform has enabled new product candidates that demonstrate dramatic pre-clinical efficacy in multiple disease models,” said Lilly’s Hall in a press release.