CBT Pharmaceuticals, a US-based oncology therapeutics developer spun out of cancer research firm Crown Bioscience International, has completed a $9.75m series A round led by investment firm OrbiMed through its OrbiMed Asia subsidiary.
Founded earlier this year, CBT is developing treatments that will target the growth and proliferation of cancer cells, and has four product candidates in the development stage. It will use the funding to advance two of those four into human clinical trials.
The series A round, which included $2m in warrants, follows a $5m seed investment by Crown Bioscience.