WORCESTER, Mass., Dec. 07, 2015 (GLOBE NEWSWIRE) -- Nemucore Medical Innovations, Inc., a privately held, clinical-stage biopharmaceutical company dedicated to the development of therapies targeting multi-drug resistant cancers with a special emphasis on highly lethal women’s cancers, today announced the closing of a Series A financing round. Nemucore plans to use the proceeds of the financing to advance NMI-900, a potential "best-in-class" therapeutic into a Phase 2b trial in ovarian cancer, the development and expansion of its innovative oncology pipeline and for general corporate purposes. Financial terms were not disclosed.
“We are pleased to close this financing, which is key to progressing our lead program into the next stage of clinical development,” said Timothy P. Coleman, Ph.D., Chairman, Chief Executive Officer and President of Nemucore. “This financing recognizes the capital efficiency of our organization, as we have successfully advanced novel therapies into the clinic for difficult-to-treat cancers. We believe the support of our investors is a strong endorsement of the leadership team and positions Nemucore’s assets for strategic growth and investment.”
About Nemucore Medical Innovations, Inc.
Nemucore Medical Innovations, Inc. is a privately held, clinical-stage biopharmaceutical company dedicated to the development of therapies targeting multi-drug resistant cancers with a special emphasis on highly lethal women’s cancers. Nemucore's most advanced candidate NMI-900, a potential "best-in-class" therapeutic for the treatment of ovarian cancer, is expected to begin a Phase 2b clinical trial in mid-2016. Two additional candidates are anticipated to enter clinical trial development later in 2016, targeting a variety of difficult-to-treat oncology indications, including breast, non-small cell lung cancer (NSCLC), myelodysplastic syndrome (MDS) and other cancers. For more information, please visit our website at www.nemucore.com.
Source:Nemucore Medical Innovations, Inc.