Congratulations to Apexian Pharmaceuticals, which licenses technology through the Indiana University Innovation and Commercialization Office. Mark R. Kelley, Apexian Pharmaceuticals’ chief scientific officer, is the Betty and Earl Herr Chair in Pediatric Oncology Research and a professor in the Department of Biochemistry and Molecular Biology and the Department of Pharmacology and Toxicology at the Indiana University School of Medicine

Officials at Apexian Pharmaceuticals, an Indiana-based clinical-stage biotechnology company developing novel compounds to treat cancer, announced today that they are closing their Series A funding round. This financing follows previous investments as well as numerous grants and awards received by the company since its founding. Proceeds will be used to initiate the phase I clinical study for APX3330, a novel first-in-class oral treatment for patients with cancer.

Elevate Ventures, a venture development organization based in Indiana, committed funding through its Indiana 21st Century Research & Technology Fund, a direct investment vehicle overseen by the Indiana Economic Development Corporation positioned to support early-stage, high-growth companies.

Apexian Pharmaceuticals President and CEO Steve Carchedi commented, “We are very pleased to have an Indiana group like Elevate Ventures join with others to enable this key data to be generated for our lead molecule. Developing a first-in-class oral molecule to treat pancreatic, colon and other difficult-to-treat cancers is at the core of our mission. Cancer patients are truly waiting for novel treatments to attack these deadly diseases.”

More information about the company’s Series A funding is available online.

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