Kolltan Pharmaceuticals, a US-based developer of therapeutic cancer treatments, has closed a $60m series D round from investors including pharmaceutical company Purdue Pharma.
Other investors in the series D round were KLP Enterprises, Deerfield Capital Management, HBM Healthcare Investments and Osage University Partners.
Purdue also participated in Kolltan’s $40m series A round in 2009 and its $10m series B the following year. Kolltan has now raised $125m in total funding since it was founded in 2007 and its past investors include Celtic Therapeutics Holdings and Tichenor Ventures.
Kolltan will invest the capital in advancing KTN3379, its lead clinical-stage drug candidate, which is currently being evaluated in a Phase 1 clinical trial, into Phase 2 clinical trials for cancer patients. It also plans to advance additional preclinical candidates toward clinical studies.
“This financing provides Kolltan with funding to advance multiple differentiated product candidates through significant milestones in clinical as well as preclinical development, to continue to develop our innovative research pipeline, and to create opportunities to fund or partner our clinical-stage assets,” confirmed Kolltan chairman Arthur Altschul, Jr.