Tuesday, May 5, 2009

Calistoga Pharmaceuticals Raises $30M More

Seattle-based Calistoga Pharmaceuticals, which is developing treatments for cancer and inflammatory diseases, said Tuesday that it has raised $30M in a Series B funding round. Calistoga said that the funding came from Alta Partners, Amgen Ventures, Frazier Healthcare, and Three Arch Partners. According to Calistoga, the new funding will go to advance the firm's drug development pipeline, which includes a compound for treating hematologic malignancies, inflammatory diseases, and solid tumor malignancies. Two of those drugs are headed into Phase 2 clinical studies, and the other into Phase 1 evaluations. The new funding brings the company's total raised to more than $56M. More information »