BioSight Ltd., a pharmaceutical development company developing innovative therapeutics for hematological malignancies and disorders, today announced the raising of a $19M Series C financing.
The investment is led by Israel Biotech Fund (IBF) with participation by SBI JI Innovation Fund, Arkin Bio Ventures, and additional new and existing investors. The new capital will advance the clinical development of Biosight’s lead asset BST-236 (aspacytarabine), currently being investigated in a Phase 2b study as a single-agent, first-line treatment of acute myeloid leukemia (AML).
“We are thrilled with this financing,” said Dr. Ruth Ben Yakar, Chief Executive Officer of Biosight. “The increase of our investor base as well as the continued support from our existing shareholders are testaments to the potential of BST-236 as an important new therapy to cancer patients with limited therapeutic options. With this funding we are well positioned to complete enrollment of our ongoing Phase 2b trial in patients with AML, and to advance BST-236 to additional indications to address the unmet needs in the treatment of patients who are currently medically unfit to receive intensive chemotherapy.”
Dr. David Sidransky of IBF said, “The encouraging interim data presented at the 2019 ASH Annual Meeting bolster our confidence in the ability of BST-236 to serve as a safer and more tolerable chemotherapy agent. We believe BST-236 has the potential to dramatically change standard of care for patients with hematologic malignancies and are thrilled to partner with the Biosight team to help the company succeed in its clinical development.”
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Source: BioSpace
