Complexa, a biopharmaceutical company in Radnor, has raised $62 million from a Series C financing round that was led by New Enterprise Associates and Pfizer Venture Investments, writes Alison Burdo for the Philadelphia Business Journal.
“This financing enables Complexa to advance CXA-10, the first drug candidate from our novel nitrated fatty acid platform, into Phase 2 trials,” said Josh Tarnoff, Complexa’s president and CEO.
CXA-10 is Complexa’s lead compound. Thanks to the newly acquired funding, the drug candidate can now undergo further development and testing to assess its effectiveness in treating focal segmental glomerulosclerosis (FSGS).
FSGS is an orphan disease that can cause scarring in the kidney and in some cases lead to end-stage renal disease. Patients with FSGS will be part of a clinical trial that is expected to begin next year.
In addition to treating FSGS, Complexa is developing the compound as a potential treatment for the rare disease PAH (pulmonary arterial hypertension).
“CXA-10 is a highly differentiated agent that has the potential for disease-modifying effects in inflammatory conditions such as FSGS and PAH, in which many patients fail to respond to existing treatment options,” said Tarnoff.
Read more about Complexa’s financing round in the Philadelphia Business Journal by clicking here.