San Diego-based Kalypsys Inc. (News) announced that it has raised $100 million in a Series C financing. The company will use the proceeds to fund a broad range of preclinical and clinical programs in the areas of cardiovascular/metabolic diseases, pain/inflammation and oncology.
Tavistock Life Sciences, one of Kalypsys’ previous investors, led the round with an $89 million contribution. Previous investors Sprout Group, CMEA Ventures and KT Venture Group participated in the round. The financing increases the total private equity that Kalypsys has raised to $172 million since February 2002, according to the company.
“This is further validation of our early successes in changing the way drugs are discovered and developed,” said John McKearn, Ph.D., Kalypsys’ president and CEO. “With our expertise and technologies, we’re able to move rapidly from idea to IND with high-quality molecules. The financing will support our further progression of multiple programs.”
Kalypsys’ pipeline includes KD3010, a small molecule Peroxisome Proliferator-Activator Receptor Delta (PPAR Delta) agonist for the treatment of metabolic disorders. The company recently completed a combined single and multiple dose-escalation study that evaluated the safety, tolerability and pharmacokinetics of KD3010 versus placebo in healthy volunteers. Kalypsys plans to follow this study with a 28-day safety trial of the drug in normal, healthy obese volunteers in early 2007.