London and Palo Alto – June 1, 2016 – Cooley advised biotech companies DalCor and FLX Bio on their recent Series B financings.
UK-based DalCor raised $100 million in its Series B round from founding investors, Sanderling Ventures and André Desmarais, together with new investors Caisse de depot et placement du Quebec, the Fonds de solidarite FTQ, CTI Life Sciences and additional undisclosed investors. Cooley also advised on the company's $50 million Series A last year.
DalCor is focused on providing precision medicine through the identification of genetically distinct patient populations that derive clinical benefits. The company is developing dalcetrapib (formerly RG1658), a small molecule inhibitor of cholesteryl ester transfer protein to treat cardiovascular disease. In April of 2016 DalCor initiated the double-blind, randomized, placebo-controlled, multicenter Phase 3 "dal-GenE" clinical trial, a cardiovascular outcomes study of dalcetrapib in patients with acute coronary syndrome (ACS) and the AA genotype in the ADCY9 gene.
The Cooley team advising DalCor included Nicola Maguire, Tom Goodman, Leo Spicer-Philips, Harry Calkin and Natasha Kaye in the UK and Gordon Empey, Mark Hrenya and Julia Stark in the US.
FLX Bio raised a $50 million Series B, which included participation from The Column Group, Topspin Partners, Kleiner Perkins Caufield & Byers and Celgene.
FLX Bio Inc. is a privately-held biopharmaceutical company focused on the discovery, development and commercialization of novel immuno-oncology agents. The company leverages its unique insights in cancer biology and the immune system to discover and develop novel oral medicines that activate immune responses to eradicate cancer. In addition, the company is also developing FLX925, a selective inhibitor of FLT3 and CDK4/6 in a Phase I study in patients with acute myeloid leukemia.
The team advising FLX Bio included Glen Sato and Erin Kravitz.
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About DalCor Pharmaceuticals
DalCor is developing precision treatments by genetically targeting patients that will derive clinical benefits. By integrating clinical and genetic insights, DalCor intends to deliver superior clinical cardiovascular outcomes. The company's first development program, dalcetrapib, is intended to reduce cardiovascular events in a specific genetic subset of patients. DalCor Pharmaceuticals has offices in Montreal, San Mateo, Calif., Zug, Switzerland and Stockport, U.K. For more information, visit www.dalcorpharma.com.