Celator Pharmaceuticals is developing CPX-351, a liposomal formulation of cytarabine:daunorubicin, as its lead investigational product for acute myeloid leukemia. The company’s CombiPlex platform locks synergistic molar drug ratios in nano-scale delivery vehicles and underpins a pipeline that includes CPX-1 (irinotecan:floxuridine) in colorectal cancer and preclinical CPX-571. Celator is conducting an enrolling Phase 3, 300-patient randomized study in 60–75 year-old patients with secondary AML with overall survival as the primary endpoint. The company completed a private placement of common stock and warrants that raised aggregate proceeds of $39.3 million (including $6.8 million from prior closings) and $32.5 million in the final close. Proceeds from the financing are expected to fully fund the currently enrolling Phase 3 clinical study. Celator has locations in Princeton, NJ and Vancouver, BC. Celator Pharmaceuticals develops liposome-based cancer therapies, with lead candidate CPX-351 for acute myeloid leukemia. CPX-351 has been granted orphan drug status by the U.S. FDA, providing seven years of U.S. market exclusivity and potential regulatory incentives. The company reported positive randomized phase 2b data showing a statistically significant overall survival benefit in first-relapse AML patients with an unfavorable risk profile. Its pipeline also includes CPX-1 for colorectal cancer (phase 2) and preclinical CPX-571 for small cell lung cancer. Celator’s nanoparticle delivery system was developed in conjunction with Princeton University and remains in early-stage research. The company has offices in Princeton, New Jersey, and Vancouver, British Columbia, and is balancing clinical development with ongoing fundraising. Celator Pharmaceuticals is developing new therapies to treat cancer, with a lead investigational product focused on acute myeloid leukemia (AML). Its lead product is CPX-351 (Cytarabine:Daunorubicin) Liposome Injection. CPX-351 is based on CombiPlex®, Celator’s proprietary drug ratio technology platform and has been granted orphan drug status by the U.S. Food and Drug Administration (FDA). The company said it will use new capital to support completion of ongoing clinical trials and activities related to advancing CPX-351. Celator is based in Princeton, NJ and also operates offices in Vancouver, BC. The company raised $20M in a Series D private equity financing to fund these activities. Celator Pharmaceuticals focuses on combining two existing chemotherapy drugs into single, fixed-ratio formulations intended to enhance tumor killing while minimizing overlapping toxicities. Its lead candidate, CPX-1 (a 1:1 molar combination of irinotecan and floxuridine), is in mid-stage human trials, and CPX-351 (cytarabine plus daunorubicin) is entering a phase I trial for acute myeloid leukemia. An earlier phase I test of CPX-1 in 26 patients produced 15 cases of tumor stabilization for at least two months and two instances of tumor shrinkage, but that trial was non-randomized, uncontrolled and not blinded. Coverage questioned the company’s framing of “clinical benefit,” noting 17/26 equals 65% and that three patients were unevaluated (one surviving less than two weeks). Financially, the company recently raised $10 million and previously completed a $40 million second funding in 2005. Investors named in coverage of the recent follow-on include Domain Associates, Quaker BioVentures, TL Ventures, Ventures West Management, GrowthWorks Capital, the Business Development Bank of Canada and Hearthstone Investment.

Total raised

$65M

Funding rounds

4

Latest round

Equity

Latest activity

Apr 2013