NormOxys, Inc., based in Wellesley, MA, develops a novel class of small-molecule drugs that enhance the body’s ability to deliver oxygen to diseased, hypoxic tissues. Its lead candidate, OXY111A, was discovered from NormOxys’ proprietary platform for novel oxyren drugs and is intended to restore oxygenation levels in diseased tissues. The company recently received Investigational New Drug (IND) clearance from the U.S. FDA for OXY111A in oncology. The new financing will enable NormOxys to advance OXY111A into clinical development in 2010 for chronic heart failure and cancer and to complete clinical studies through proof-of-concept in both indications. NormOxys has raised $17.5M in a Series B round, bringing total capital raised to $30M. In conjunction with the financing, Dr. Karabelas will join the company’s board, which is chaired by Jean-Pierre Garnier, Ph.D.

Total raised

$18M

Funding rounds

1

Latest round

Series B

Latest activity

May 2010