CytomX Therapeutics Receives $80,000,000 New Funding
- Feed Type
- Link
http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=c912a8f6-89fe-404c-8560-7a825b777fa1 - Date
10/8/2015 - Company Name
CytomX Therapeutics - Mailing Address
343 Oyster Point Blvd. South San Francisco, CA 94080 USA - Company Description
CytomX Therapeutics (NASDAQ: CTMX) is a biotechnology company developing Probodies, proteolytically-activated antibodies. - Website
http://www.cytomx.com - Transaction Type
IPO - Transaction Amount
$80,000,000 - Transaction Round
Undisclosed - Proceeds Purposes
This offering is intended to provide funding through first-in-human studies of our two lead programs. In particular, we currently expect to use the net proceeds from this offering as follows: approximately $25.0 million to $35.0 million for the development of CX-072, including our planned Phase 1 clinical trials and product candidate manufacturing; approximately $15.0 million to $20.0 million for the development of our Probody therapeutic directed against CD-166, including our planned Phase 1 clinical trials and product candidate manufacturing; and approximately $25.0 million to $35.0 million for research and development activities, including discovery of additional cancer immunotherapies and first-in-class therapeutics directed against difficult-to-drug targets and continued development of our Probody technology platform. We expect to use the remainder of the net proceeds from this offering for working capital and other general corporate purposes, which may include funding for the hir - M&A Terms
