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

Join For Free

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 3,500+ scientific posters on ePosters
  • More than 5,000+ 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
Drug to Treat Alcohol Use Disorder Shows Promise Among Drinkers With High Stress
The findings suggest that potential future studies with drugs targeting vasopressin blockade should focus on populations of people with AUD who also report high levels of stress.
Scientists Find Lethal Vulnerability in Treatment-Resistant Lung Cancer
The study describes how the drug Selinexor killed lung cancer cells and shrank tumors in mice when used against cancers driven by the aggressive and difficult-to-treat KRAS cancer gene.
Advanced Lymphoma in Remission After T-Cell Therapy
63% of trial participants who recieved two-drug combination chemo plus intermediate dose of engineered T cells went into complete remission.
New Treatment for Immune Cancers
Clinical trial shows new drug holds promise for treating advanced mastocytosis.
Sickle Cell Gene Therapy Passes Test
Researchers found a precision-engineered gene therapy virus reduced sickle-induced red-cell damage in mice with sickle cell disease.
Opening Door to Oesophageal Cancer Targeted Treatments
Scientists have discovered that oesophageal cancer can be classified into three different subtypes.
Vitamin C May Boost Leukemia Treatment
Studies show that supplementing an epigenetic cancer drug with vitamin C enhanced the drug's effectiveness.
Inovio Launches Zika Vaccine Trial
Inovio launches Zika vaccine trial in midst of Puerto Rico epidemic to explore early signals of vaccine efficacy.
New Hope for Zika Treatment Found in Large-Scale Screen of Existing Drugs
Johns Hopkins researchers join collaborative group to screen 6,000 existing drugs in hopes of finding treatments for Zika Virus infection
FINCH Filgotinib Phase 3 Program Initiated
Galapagos NV reports the initiation of the FINCH global Phase 3 program in rheumatoid arthritis patient populations.
Scroll Up
Scroll Down
SELECTBIO

SELECTBIO Market Reports
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
3,500+ scientific and medical posters
A library of 2,500+ scientific videos on LabTube
5,000+ scientific videos
Close
Premium CrownJOIN TECHNOLOGY NETWORKS PREMIUM FOR FREE!