New York, USA-based, 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, Zetagen Therapeutics raised USD 9.79 million in Series B financing. The round took place on August 12, 2023. New York Ventures and Consolidated Capital Investments, LLC, as well as several private investors, joined in the financing.
Purpose of financing for Zetagen Therapeutics
With the latest financing, Zetagen seeks to support the advancement of its lead pipeline asset ZetaMet™. The pipeline asset 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, the funding intends to further commence 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 also seeks to add new talent to support these advancing programs. Earlier, the company issued two Breakthrough Device Designations from the U.S. Food and Drug Administration (FDA) for ZetaMet™ and ZetaFuse®. It also issued multiple patents from the U.S. Patent and Trademark Office (USPTO). Series A and B rounds of funding, Phase I and II National Institute of Health (NIH) / National Cancer Institute (NCI) grants and angel investors funds Zetagen.
What the company’s official has to add
Joe C. Loy, CEO of Zetagen Therapeutics, said, “We are pleased to have reached this key milestone in the advancement of Zetagen as a biopharmaceutical company. 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.”
Nikhil Thakur, MD, Co-founder, further said, “The work being done by Zetagen is aligned with our mission of supporting research which is potentially life-changing. 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.”
About the company
Bryan Marguiles and Nikhil Thakur launched the company in 2015. Zetagen exclusively licensed the platform technology from the State University of New York in 2016. The company recently received an 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 such as the liver, lung and or brain.
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