27. October 2009 08:53
Bellicum Pharmaceuticals, Inc. today announced $4.5 million in Series A and Convertible Note funding. The new funds will be used to complete the company's ongoing Phase I/IIa trial of BP-GMAX-CD1 in patients with advanced, androgen independent prostate cancer, and to prepare for Phase IIb trials. The company anticipates reporting initial results of the Phase I/IIa trial in mid 2010.
The new funding brings the total raised to date to $8.5 million, including $1.45 million from the Texas Emerging Technology Fund, $6.8 million from angel investors, and additional seed capital from founders. The $6.8 million in angel funding includes $4.3 million as Series A and $2.5 million as a Note convertible into Series A.
Bellicum Chief Executive Officer Tom Farrell stated, "It is particularly gratifying to raise sufficient funds in this challenging economic environment to advance beyond our next significant milestone, which is demonstrating clinical proof of principle for our core vaccine technology." Bellicum Founder, President & Chief Medical Officer Kevin M. Slawin, M.D., added, "Thanks to the support of our current and new investors, we are now in a strong position to realize the significant potential of our lead product to positively impact the lives of men living with prostate cancer."
SOURCE Bellicum Pharmaceuticals, Inc.
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