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  • Diatos Completes a Series D $12.8 Million Private Financing Round

    July 4th, 2007 No comments

    Diatos SA, an international biopharmaceutical company focusing on the research, development and commercialization of targeted anti-cancer drugs, has announced the successful closing of a financing round raising $12.8 million. The round was led by existing investors of Diatos including GIMV (Belgium), Credit Agricole Private Equity (France), InterWest Partners (United States), Innoven Partenaires (France), Sofinnova Partners (France) and Biotech Fund Flanders (Belgium), also participated in the round additional existing investors including AGF Private Equity (France), NIF SMBC (Japan), Sopartec (Belgium), and SGAM (France). This brings the total equity capital raised by Diatos since its inception in 1999 to date to $74.65 million.

    The new injection of funding will allow Diatos to further develop with full capacity its leading clinical products. The paclitaxel depot formulated polymer gel DTS-301, having recently completed a Phase IIa and poised to enter Phase IIb/III in Esophageal cancer, the doxorubicin prodrug DTS 201, having recently completed a Phase I in solid tumors and poised to enter Phase II; as well as to robustly expand its product pipeline with the launch of DTS-108, a promising second generation Irinotecan, in GLP preclinical toxicology studies and the continuous focus on generating new TSP-based drugs.

    Commenting on the financing, Dr John Tchlingrian, President and CEO said:

    “We are delighted to have received this significant financial support from our world class investor group that continuously supported Diatos and its management team. The Company is now in a strong financial position with a deep and balanced portfolio of oncology products and assets. With this financing we will focus on taking our clinical and preclinical products forward to their next stage of maturity and achieve significant development and value creation milestones”.

    Diatos is a biopharmaceutical company dedicated to the research, development and commercialization of innovative anti-cancer drugs with enhanced tumor targeting or improved biodistribution. Diatos is expanding its portfolio of drug candidates with new compounds that utilize its Vectocell delivery technology or its Tumor-Selective Prodrug (TSP) technology as well as with in-licensed candidate and marketed cancer therapies. Diatos is headquartered in Paris, France and operates subsidiaries in Belgium and the United States of America.

    For further information, please visit www.diatos.com

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