Nov. 22, 2017 – Intezyne, a clinical-stage biopharmaceutical company developing novel anti-cancer therapies that is headquartered at the USF Tampa Bay Technology Incubator, announced that its recently closed $10M Series A Preferred round, led by North Carolina-based Gaston Capital, was recognized as the ‘Deal of the Year: Initial Funding’ at the 19th Annual Southeast BIO (SEBIO) Investor & Partnering Forum, held in Pinehurst, NC from November 14-16, 2017.
“On behalf of Southeast BIO’s Awards Committee, I would like to congratulate Intezyne on their continued funding success, which potentially benefits cancer patients worldwide,” said David Day, Executive Director, SEBIO. “Southeast BIO’s Awards Program recognizes both the companies and the individuals that are driving the growth of the Southeast’s life sciences industry.”
“We are pleased to see Intezyne’s successful fundraising efforts recognized by this award,” added Mick McMahan, founder and Managing Partner of Gaston Capital. “As the lead investment in our newly launched Gaston Capital Healthcare Fund (GCHF), we remain excited about Intezyne’s prospects as an emerging oncology company that could improve outcomes in some of the deadliest cancer indications.”
Intezyne currently has two clinical-stage programs: IT-139, a novel Cancer Resistance Pathway (CRP) inhibitor for the treatment of pancreatic, gastric and BRAF-mutated cancers in combination with existing anti-cancer therapies, and IT-141, a novel topoisomerase I (TOP-I) inhibitor for the treatment of colorectal and breast cancers. IT-139 was granted an Orphan Drug Designation (ODD) in early 2017, and Intezyne expects to initiate parallel Phase 1/2 studies of IT-139 in pancreatic and gastric cancer in mid-2018. Recent pharmacokinetic (PK) data from the company’s ongoing Phase 1 clinical study of IT-141 showed successful delivery of SN-38 far in excess of both Pfizer’s Camptosar® (irinotecan) and Merrimack’s Onivyde® (liposomal irinotecan), the latter of which was acquired by Ipsen in early 2017 for more than $1B.
“Following successful meetings with potential investors related to our just-launched pre-IPO $30M Series B round at the BIO Investor Forum in San Francisco and BIO-Europe in Berlin, we are thrilled to be recognized by SEBIO with this award,” said CFO E. Russell McAllister. “In addition to raising additional funding, we’re now actively exploring potential licensing transactions with established biopharmaceutical companies worldwide that are looking for disruptive oncology assets with blockbuster potential.”