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  • Kalypsys Raises $100 Million in Series C Private Equity Financing

    November 29th, 2006 No comments

    Kalypsys Inc. announced recently that it has raised $100 Million in a Series C financing. The company will use the proceeds to fund its broad range of pre clinical and clinical programs in the areas of cardiovascular diseases and metabolic diseases, pain inflammation and oncology.

    Tavistock Life Sciences, one of Kalypsys’ previous investors, led the round with an $89 million investment. Previous investors Sprout Group, CMEA Ventures and KT Venture Group participated in the round. The financing increases the total private equity that Kalypsys has raised to $172 million since February 2002.

    “This is further validation of our early successes in changing the way drugs are discovered and developed,” said John McKearn, Ph.D., Kalypsys’ president and CEO. “With our expertise and technologies, we’re able to move rapidly from idea to IND with high quality molecules. The financing will support our further progression of multiple programs.”

    Shehan Dissanayake, Ph.D., CEO of Tavistock Life Sciences, added, “The significant infusion of capital enables Kalypsys to advance its drug candidates through the development process without turning to the public markets at this time. Kalypsys’ elegant approach to drug discovery will continue to yield very promising compounds for a range of indications. We want to ensure that the company is well-positioned to maximize the value of these assets at later stages.”

    “We combined two studies into one to establish a more complete safety profile of KD3010 that will guide our dose selection in the second trial,” said Paul Grint, M.D., Kalypsys’ chief medical officer. “The innovation in our trial design is another aspect of our approach to expediting the development of medicines. Our speed in the discovery stage carries over to the development stage, which can significantly reduce the costs associated with the traditional development of small molecule drugs.”

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