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  • Xanthus Secures $25 Million to Advance Development of Its Pipeline

    December 5th, 2006 No comments

    Xanthus Pharmaceuticals, Inc., a privately held oncology drug development company, recently announced that it closed an equity financing, raising $25 Million through the sale of additional shares of its Series B Convertible Preferred Stock. Xanthus’ existing investors were the sole participants in this round including, Oxford Bioscience Partners, HealthCare Ventures, GeneChem, GIMV, Hambrecht & Quist Capital Management, Still River Fund, Neomed, Kestrel Ventures, CDP Capital, CDIB BioScience Ventures, and Yasuda. This brings the total venture capital raised by the company to $88 million.

    “We are pleased to have the continued confidence and support of our high caliber investment team, including our international investors, in this round of funding,” stated Richard T. Dean, Ph.D., Xanthus’ Chief Executive Officer. “With this financing, we believe Xanthus is well-positioned for the continued development of our pipeline of five oncology products.”

    “We believe that the value potential of Xanthus’ pipeline is illustrated by the company’s two low-risk near-term programs and two earlier-stage large-market programs,” stated Mark Carthy of Oxford Bioscience Partners.

    “Xanthus has demonstrated the capability to build a leading oncology franchise and advance an impressive pipeline of product candidates by leveraging its management’s expertise and experience,” stated Christopher K. Mirabelli of HealthCare Ventures. “This team has successfully brought-in additional compounds that we believe will allow Xanthus to capture value in its niche product markets.”

    Xanthus Pharmaceuticals, Inc. is developing a portfolio of novel, clinical-stage, small-molecule oncology candidates through a management team whose accomplished track record encompasses all aspects of drug development, from discovery through regulatory approval and commercialization. The Company is applying its expertise both to advance its current pipeline and expand it into indications of unmet medical need beyond oncology.

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