Tyrogenex, a US-based biotechnology company working to develop treatments for specific cancers, has closed a $15m series D funding round with investment from Brace Pharma, the investment arm of EMS, a Brazil-based pharmaceutical company.
The funding from this investment round will be used to move towards clinical trials of X-82, an orally administered drug that aims to treat solid cancers and various eye diseases.
Sheridan G Snyder, chairman and chief executive of Tyrogenex, said: “This significant investment from EMS and Brace Pharma will help to advance X-82, a compound with reduced toxicity compared to other vascular endothelial growth factor and platelet-derived growth factor receptor inhibitors, through the clinic to bring a much needed treatment to patients with solid tumours and wet age-related macular degeneration.”
Vinzenz Pioerer, president and chief executive of Brace Pharma, will join the Tyrogenex board of directors.