ST. LOUIS--(BUSINESS WIRE)--Euclises Pharmaceuticals, Inc., a pharmaceutical company developing third-generation COX-2 inhibitors, today announced additional investments that complete its Series A round. The additional financing brings the Series A total to nearly $2 million, enabling Euclises to complete preclinical work and file an IND for first studies of lead candidate ECP-1014 in patients.
As part of the additional monies, existing investors Cultivation Capital, St. Louis Arch Angels, and BioGenerator added to their earlier investments of July 2014. In conjunction with its development partnership with Guangzhou Institutes of Biomedicine and Health (GIBH), Euclises expects the Series A to fund completion of ongoing IND-enabling studies and the filing of an IND for human clinical studies in cancer patients.
Dr. Bobby Sandage, President and CEO, commented, “The fact that the existing shareholders looked to increase their support of the company is a testament to the continued progress that the Euclises team has made on the EuclicoxibTM program, in particular the GIBH partnership and the nomination of the lead compound, ECP-1014. By the end of this year, we expect to raise additional funds to begin the first-in-human study in 2016.”
The COX-2 pathway has been shown to be important in inflammation, carcinogenesis, tumor proliferation, angiogenesis, immunosuppression, and preventing cancer cell apoptosis. Compounds, such as ECP-1014, that selectively block COX-2 are expected to inhibit all of these pathways.
Euclises Pharmaceuticals, Inc. (Euclises) is a drug discovery and development company focused on novel cyclooxygenase-2 (COX-2) inhibitors for use in the oncology setting. The company is developing a portfolio of COX-2 inhibitors optimized for cancer treatment based on its proprietary EuclicoxibTM platform. In 2014, Euclises and Guangzhou Institutes of Biomedicine and Health (GIBH) announced a development agreement, under which GIBH is advancing one of the candidates for pain and inflammation indications in China and the two are coordinating mutual development activities. The company is currently headquartered within the BioGenerator Accelerator Labs at CORTEX and supported by funding from Cultivation Capital, BioGenerator, Missouri Technology Corporation, the St. Louis Arch Angels, and other investors. For more information, visit the Euclises website at www.euclises.com.