Menlo Park, California, December 30, 2014. 3-V Biosciences, Inc., a clinical-stage biopharmaceutical company developing therapeutics that modulate key pathways in oncology and infectious diseases, announced today the closing of its Series D round of financing co-led by NEA, Kleiner Perkins and Rock Springs Capital Management and includes other new investors such as Ally Bridge Group.
“All of us involved with 3-V are thankful and excited to be supported by a truly top-tier syndicate of investors. As a company, we are at a key inflection point in our growth trajectory as our novel oncology target (FASN), that has been historically so difficult to target, is now on the cusp of producing clinically meaningful data,” commented Merdad Parsey, M.D., Ph.D, Chief Executive Officer of 3V Biosciences.
Proceeds from this capital infusion enable the advancement of 3-V’s oncology clinical trials being performed as monotherapy and in combination with cytotoxic agents through phase IB expansion cohorts. The results obtained will bring 3-V to a value inflection point with a randomized phase II study being the potential next development milestone. In addition, the Company expects to conclude preclinical and IND-enabling work for the second program derived from their drug-discovery platform for regulatory (IND or CT) filing in 2015. This second target has demonstrated broad-spectrum activity against multiple viruses, including respiratory syncytial virus (RSV), cytomegalovirus (CMV) and parainfluenza virus (PIV3), among others.
About TVB-2640
TVB-2640 is an oral, proprietary fatty acid synthase (FASN) inhibitor being evaluated for the treatment of solid tumors. FASN, an enzyme responsible for the synthesis of palmitic acid (palmitate), plays a key role in tumor metabolism, lipid signaling and tumor cell survival. FASN over-expression is associated with aggressive disease and poor prognosis in a number of solid tumors. TVB-2640 is the first FASN inhibitor to enter human clinical trials.
About 3-V Biosciences
3-V Biosciences, Inc. is discovering and developing therapeutics that modulate key pathways in oncology and infectious diseases. In oncology, the company’s lead candidate is a fatty acid synthase (FASN) inhibitor that has been shown to block tumor cell signaling pathways and induce tumor cell apoptosis. 3-V’s antiviral therapeutics have demonstrated the ability to block host-pathogen interactions, resulting in robust and broad-spectrum in vitro and in vivo antiviral activity, including efficacy against viruses resistant to other classes of antiviral drugs, and a high barrier to resistance. The 3-V team applies an integrated approach, leveraging internal expertise in biology, medicinal chemistry, drug discovery and development to drive programs forward. The company is located in Menlo Park, California.
# # #
Investor Relations Contact:
Jamien Jones
Blueprint Life Science Group
Telephone: 415.375.3340 Ext. 103
jjones@bplifescience.com
