Tyrogenex Raises $15M in Series D Round

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Tyrogenex Inc., a West Palm Beach company focused on discovering and developing novel patented cancer and ophthalmic therapeutics, today announced it received $15 million in Series D financing from Brace Pharma, the U.S. investment company of EMS S/A, the largest pharmaceutical company in Brazil. Vinzenz Ploerer, president and CEO of Brace Pharma, was appointed to the Board of Directors for Tyrogenex, Inc. Tyrogenex is developing X-82, an orally administered, dual VEGFR/PDGFR inhibitor, as a targeted therapeutic for solid tumors and ophthalmological diseases, respectively. The funding from the Series D will support further clinical development of X-82, including a phase 2, randomized study of X-82 as an oral treatment of wet age-related macular degeneration (AMD) that is expected to begin later this year. “This significant investment from EMS and Brace Pharma will help to advance X-82, a compound with reduced toxicity compared to other VEGFR/PDGFR inhibitors, through the clinic to bring a much needed treatment to patients with solid tumors and wet AMD,” said Sheridan G. Snyder, chairman, and chief executive officer of Tyrogenex and the Xcovery Group of companies. Snyder co-founded Tyrogenex with Dr. Chris Liang, executive vice president and chief scientific officer. Read more here.