Corporate Banner
Satellite Banner
Pharma Outsourcing
Scientific Community
 
Become a Member | Sign in
Home>News>This Article
  News
Return

Celator® Pharmaceuticals Raises $32.5 Million Completing a $39.3 Million Private Placement Financing

Published: Wednesday, May 01, 2013
Last Updated: Wednesday, May 01, 2013
Bookmark and Share
Proceeds will support phase 3 study of CPX-351 in acute myeloid leukemia.

Celator Pharmaceuticals, Inc. announced that it has raised $32.5 million in the final closing of a private placement of common stock and warrants to purchase common stock. Proceeds totaling $39.3 million, including $6.8 million from prior closings, have been raised in this financing and will support the late-stage clinical development of the Company's lead investigational product, CPX-351 (cytarabine:daunorubicin) Liposome Injection. This financing is expected to fully fund the Company’s currently enrolling Phase 3 clinical study as first-line therapy in patients, 60-75 years of age, with secondary acute myeloid leukemia (AML).

The Phase 3 clinical study is designed as a 300 patient, randomized, controlled study comparing CPX-351 to conventional cytarabine and daunorubicin therapy (7+3) with a primary endpoint of overall survival. The Phase 3 study is based on results from a randomized, controlled, Phase 2b study in newly diagnosed AML patients, 60-75 years of age, presented at the American Society of Clinical Oncology conference in 2011.

The financing was led by Valence Life Sciences, LLC. Roth Capital Partners, LLC and National Securities Corporation acted as co-lead placement agents in connection with the institutional investors and certain accredited investors.

Scott Morenstein, Managing Director at Valence Life Sciences, will be joining the Board of Directors.
A total of 10,430,034 shares of common stock were sold at a price of $3.116 per share for aggregate gross proceeds of $32.5 million. Warrants to purchase 0.28 shares of common stock were issued for each share of common stock purchased. This raise is in addition to the $6.8 million in shares of common stock previously sold to accredited investors by National Securities, exclusive of $5.0 million invested by current stockholders of the Company, as the Company reported in its Form 10-K report for the year ended December 31, 2012. An additional 1,923,599 shares of common stock and corresponding warrants were issued at the final closing to certain existing stockholders of the Company who participated in earlier closings of this financing. The securities issued in this financing have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.


Further Information
Access to this exclusive content is for Technology Networks Premium members only.

Join Technology Networks Premium for free access to:

  • Exclusive articles
  • Presentations from international conferences
  • Over 2,500+ scientific posters on ePosters
  • More than 3,700+ scientific videos on LabTube
  • 35 community eNewsletters


Sign In



Forgotten your details? Click Here
If you are not a member you can join here

*Please note: By logging into TechnologyNetworks.com you agree to accept the use of cookies. To find out more about the cookies we use and how to delete them, see our privacy policy.


Scientific News
NIH Study Shows No Benefit of Omega-3 Supplements for Cognitive Decline
Research was published in the Journal of the American Medical Association.
NIH Launches Human RSV Study
Study aims to understand infection in healthy adults to aid development of RSV medicines, vaccines.
Computerized Flexible Needles Prove Themselves in Biological Tissue
The advantage of the system is that you can avoid obstacles with the needles or critical tissues and that the system during the insertion of the needle in real time can adjust the path if, for example, the tissue deforms.
DARWIN 2 24-week Monotherapy Data in RA Confirm Previous Results
Safety profile in DARWIN 2 consistent with previous filgotinib RA studies.
Researchers Publish Landmark “Basket Study”
Researchers from Memorial Sloan Kettering Cancer Center (MSK) have announced results from the first published basket study, a new form of clinical trial design that explores responses to drugs based on the specific mutations in patients’ tumors rather than where their cancer originated.
Agricultural Intervention Improves HIV Outcomes
A multifaceted farming intervention can reduce food insecurity while improving HIV outcomes in patients in Kenya, according to a randomized, controlled trial led by researchers at UC San Francisco.
Overdose of Vitamin D in Teenagers May Lead to Increased Cholesterol Levels
Dosing obese teens with vitamin D shows no benefits for their heart health or diabetes risk, and could have the unintended consequences of increasing cholesterol and fat-storing triglycerides. These are the latest findings in a series of Mayo Clinic studies in childhood obesity.
Phase 2 Trials Underway for New Single Dose Malaria Treatment
The new drug, which prevents the malaria parasite from reproducing and spreading, is now undergoing Phase II clinical trials in humans.
Promising Drug for Parkinson's Disease
A drug which has already been in use for decades to treat liver disease could be an effective treatment to slow down progression of Parkinson’s disease, scientists from the University of Sheffield have discovered.
Benefits of Early Antiretroviral Therapy in HIV Infection
Scientists have explored the clinical importance of starting treatment early in individuals suffering with HIV.
Scroll Up
Scroll Down
SELECTBIO

Skyscraper Banner
Go to LabTube
Go to eposters
 
Access to the latest scientific news
Exclusive articles
Upload and share your posters on ePosters
Latest presentations and webinars
View a library of 1,800+ scientific and medical posters
2,500+ scientific and medical posters
A library of 2,500+ scientific videos on LabTube
3,700+ scientific videos
Close
Premium CrownJOIN TECHNOLOGY NETWORKS PREMIUM FREE!