Delenex Therapeutics extended its Series A venture equity investment round securing an additional $19.3 million (CHF 16.7 million) providing a total A Round investment of $34.8 million (CHF 30.2 million). The extended A round was led by new investor Novo Ventures, with the existing A round major investors (SV Life Sciences, HBM BioCapital, HBM BioVentures, BioMedInvest and VI Partners) contributing.

Delenex discovers novel antibodies using its proprietary PENTRA platform and plans to start clinical trials in inflammatory diseases, including dermatology, with its DLX105 compound, an anti-TNFalpha single-chain Fv antibody. The extended funding will enable Delenex to bring DLX105 to proof of concept in this therapy area, the company says. In addition, to evaluate the potential of Delenex’ PENTRA antibodies against other targets, further pre-clinical programs will advance to clinical candidate status, including use in other body compartments such as the central nervous system.

Release Date: May 3, 2011
Source: Delenex Therapeutics