Pharmaceutical firm BiPar Sciences just brought in $20 million in private equity and venture debt to advance its lead therapy, targeting breast cancer, to phase-three clinical trials. The investment will double the Brisbane, Calif.-based company’s cash on hand, a huge vote of confidence for its treatment methods based on inhibitors that kill cancer cells by preventing them from repairing their own DNA, BiPar says.
Its lead compound, currently in phase-two tests, could also be used to treat ovarian cancer and other malignancies. It has two other drugs in the works, including a pancreatic cancer treatment that could be taken orally.
BiPar’s investors include Domain Associates, Canaan Partners, Vulcan Capital, PolyTechnos Venture Partners, Asset Management Company and Quantum Technology Partners. The debt financing came from Lighthouse Capital Partners.