SYRACUSE, N.Y.--(BUSINESS WIRE)--Zetagen Therapeutics, a private, clinical-stage, biopharmaceutical company focused on driving breakthrough innovation in the treatment of metastatic cancers to bone and soft tissue organs as well as osteologic interventions, today announced the close of $9.79 million USD Series B funding round.
“We are pleased to have reached this key milestone in the advancement of Zetagen as a biopharmaceutical company,” said Joe C. Loy, CEO of Zetagen Therapeutics. “We have a robust and diverse pipeline of oncologic treatments in various stages of development and this funding will accelerate each asset, as well as build out the necessary expertise required to bring these important therapies to fruition.”
The Company has been issued two Breakthrough Device Designations from the U.S. Food and Drug Administration (FDA) for ZetaMet™ and ZetaFuse® and issued multiple patents from the U.S. Patent and Trademark Office (USPTO). Zetagen is funded through Series A and B rounds of funding, Phase I and II National Institute of Health (NIH) / National Cancer Institute (NCI) grants and angel investors.
The Series B financing will support the advancement of the Company’s lead pipeline asset ZetaMet™ which is currently in Phase 2a clinical trials for the treatment of metastatic breast cancer bone lesions as part of advanced stage cancer therapy. In addition to ZetaMet™, the funding will propel the development of ZetaMAST™ for the treatment of metastatic lesions to soft tissue organs, as well as other oncologic and osteologic pipeline assets. The Company will also add new talent to support these advancing programs.
“The work being done by Zetagen is aligned with our mission of supporting research which is potentially life-changing,” said Nikhil Thakur, MD, Co-founder. “We believe the development of ZetaMet™ and ZetaMAST™– as well as the Company’s other clinical programs – have the potential to make a significant contribution to the treatment of late-stage cancers and more importantly, to the lives of those living with late-stage cancer.”
Participating in the financing round were New York Ventures and Consolidated Capital Investments, LLC, and an amalgam of private investors.
About ZetaMet™ and ZetaMAST™
ZetaMet™ is a synthetic, small-molecule, inductive biologic technology being developed to target and resolve metastatic bone lesions while inhibiting future tumor growth and regenerating bone. The small molecule has been approved by the FDA since 1971. Zetagen scientists have discovered an entirely new pathway for this established molecule which, if proven successful in human clinical trials, could create a new treatment paradigm for patients living with metastatic bone lesions.
ZetaMAST™ is designed as a single, percutaneous, intra-tumoral injection, utilizing a proprietary hydrogel carrier containing a precise, tailored concentration of our small molecule. Preclinical studies have demonstrated ZetaMAST™ may cease lesion growth, with the goal of enabling improved quality of life as part of a cancer treatment program, including longevity.
About Zetagen Therapeutics
Founded in 2015, Zetagen is a private, clinical-stage, biopharmaceutical company dedicated to driving breakthrough innovation in the treatment of metastatic cancers to bone and other organs as well as osteologic interventions. Zetagen exclusively-licensed the platform technology from the State University of New York in 2016. The Company was recently issued IP directly associated with the development of ZetaMAST™. ZetaMAST™ is a first-of-its kind formulation specifically designed for intra-tumoral injection in soft tissue organs like the liver, lung and or brain. The company's pipeline encompasses further oncological solutions, targeting metastatic prostate cancer and addressing Skeletal Related Events (SREs), such as Z-Pros™ and ZetaMet Flowable™, alongside supplementary treatments for osteological conditions like ZetaFuse™ and ZetaBase®. To learn more, visit www.zetagen.com.
This press release contains certain forward-looking statements with the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and Private Securities Litigation Reform Act, as amended, including those relating to the Company’s product development, clinical and regulatory timelines, market opportunity, competitive position, possible or assumed future results of operations, business strategies, potential growth opportunities and other statement that are predictive in nature. These forward-looking statements are based on current expectations, estimates, forecasts and projections about the industry and markets in which we operate and management’s current beliefs and assumptions.
Source: Zetagen Therapeutics, Inc.