On August 11, 2023 Zetagen Therapeutics, a private, clinical-stage, biopharmaceutical company focused on driving breakthrough innovation in the treatment of metastatic cancers to bone and soft tissue organs as well as osteologic interventions, reported the close of $9.79 million USD Series B funding round (Press release, Zetagen Therapeutics, AUG 11, 2023, View Source [SID1234643708]).
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"We are pleased to have reached this key milestone in the advancement of Zetagen as a biopharmaceutical company," said Joe C. Loy, CEO of Zetagen Therapeutics. "We have a robust and diverse pipeline of oncologic treatments in various stages of development and this funding will accelerate each asset, as well as build out the necessary expertise required to bring these important therapies to fruition."
The Company has been issued two Breakthrough Device Designations from the U.S. Food and Drug Administration (FDA) for ZetaMet (Zeta-BC-003) and ZetaFuse and issued multiple patents from the U.S. Patent and Trademark Office (USPTO). Zetagen is funded through Series A and B rounds of funding, Phase I and II National Institute of Health (NIH) / National Cancer Institute (NCI) grants and angel investors.
The Series B financing will support the advancement of the Company’s lead pipeline asset ZetaMet (Zeta-BC-003) which is currently in Phase 2a clinical trials for the treatment of metastatic breast cancer bone lesions as part of advanced stage cancer therapy. In addition to ZetaMet (Zeta-BC-003), the funding will propel the development of ZetaMAST (Zeta-MBC-005) for the treatment of metastatic lesions to soft tissue organs, as well as other oncologic and osteologic pipeline assets. The Company will also add new talent to support these advancing programs.
"The work being done by Zetagen is aligned with our mission of supporting research which is potentially life-changing," said Nikhil Thakur, MD, Co-founder. "We believe the development of ZetaMet (Zeta-BC-003) and ZetaMAST (Zeta-MBC-005) – as well as the Company’s other clinical programs – have the potential to make a significant contribution to the treatment of late-stage cancers and more importantly, to the lives of those living with late-stage cancer."
Participating in the financing round were New York Ventures and Consolidated Capital Investments, LLC, and an amalgam of private investors.