SAN DIEGO--(BUSINESS WIRE)--Toragen Inc., a San Diego-based biotechnology company focused on developing, repurposing and commercializing uniquely selective drugs targeting cancers caused by the human papillomavirus (“HPV”), announced today that it has reached its initial goal to raise at least $5M in a Series Seed round of financing. The Series Seed round closed September 30, 2022. It is led by Mr. Paul Engler of Amarillo, Texas.
Sandra Coufal, MD, Toragen’s CEO, said, “we are pleased to have gotten such robust interest in furthering the development of our drug candidates to treat HPV-induced cancers. We are grateful to our investors who join us in recognizing this large unmet medical need and who continue to provide the financial support necessary despite the changes in our current economy.”
The majority of the proceeds from the Series Seed round will be used for research and development purposes. Cheryl Collett, Toragen’s CFO, said, “we will deploy the proceeds from the round for our Phase I clinical trial with our lead drug candidate, to advance our pre-clinical work on our next generation compounds, for payroll for the research, development and management teams as well as general corporate overhead.”
Toragen, founded by Andrew Sharabi, MD, PhD, Associate Professor of Radiation Medicine and Applied Sciences at UC San Diego, is targeting the root cause of virally induced cancers. https://toragen.com.