ApopLogic Pharmaceuticals is a clinical stage biopharmaceutical company focused on the development and commercialization of Breceptin, a unique oncolytic drug for the treatment of a wide range of solid tumors. Breceptin induces cancer cell apoptosis by targeting specific receptors on the surface of the tumor cells. This approach offers a distinct advantage over developing drugs that must gain entry into cancer cells and at the same time spares normal cells. Uniquely, Breceptin also targets inflammatory cells and factors in the tumor microenvironment that potentiate cancer cell growth and metastasis. Building on promising pre-clinical data in stringent animal models of human cancer, ApopLogic filed an IND application to the FDA which was allowed on December 4, 2009. A phase 1 clinical trial of Breceptin will start within 6 months of obtaining Series A funding.
The Value Proposition:
ApopLogic is seeking a Series A investment of $14 million to demonstrate safety and efficacy of Breceptin in the clinic. The first tranche of $4 million will fund a phase 1 safety and dose-finding trial. Upon successful completion of this trial, the second tranche of $10 million will be used to fund two parallel phase 2 efficacy trials, one in small cell lung cancer and one in hormone refractory prostate cancer. Investors will have the opportunity to achieve efficacy data in two cancer indications with high unmet need for a minimal investment leading to the possibility of an attractive and early exit.
FOR ADDITIONAL INFORMATION, PLEASE CONTACT:
Richard C. Duke, Ph.D., President and CEO
ApopLogic Pharmaceuticals, Inc.
12635 East Montview Blvd. Suite 100
Aurora, CO 80045