Clinical-stage biopharma firm Zetagen Therapeutics has raised $9.79m in a Series B financing round to develop its treatments for metastatic cancers to bone and soft tissue organs.
The funding round saw participation from private investors including New York Ventures and Consolidated Capital Investments.
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Zetagen will use the funding proceeds to develop its treatments, ZetaMAST and ZetaMet, and for research and development efforts for other oncologic and osteologic assets in the pipeline.
A percutaneous, intra-tumoural injection, ZetaMAST will be developed to treat metastatic lesions to soft tissue organs.
In preclinical research, it showed the potential to hinder lesion growth.
It is designed to be injected intra-tumourally into soft tissue organs such as the liver, lung and brain.
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By GlobalDataZetaMet is currently being evaluated in Phase IIa clinical trials to treat metastatic breast cancer bone lesions as part of advanced-stage cancer treatment.
The firm was issued two breakthrough device designations by the US Food and Drug Administration (FDA) for ZetaMet and ZetaFuse, along with a number of patents from the US Patent and Trademark Office (USPTO).
Zetagen Therapeutics CEO Joe Loy stated: “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.”
Zetagen also plans to include fresh talent to develop these programmes.
Zetagen Therapeutics co-founder Nikhil Thakur stated: “We believe the development of ZetaMet and ZetaMAST – as well as the company’s other clinical programmes – 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.”
