By Angela McDaniels
Seattle, Jan. 4 - Novacea Inc. said it has closed the second tranche of its series C financing. Proceeds totaled over $25 million.
Participants in the fundraising included Apax Partners, Domain Associates, New Enterprise Associates, ProQuest Investments, Versant Ventures and Sofinnova Ventures.
The company said it will use the funding to launch its phase 3 clinical trial of DN-101 in patients with advanced prostate cancer. The trial is set to begin enrolling patients during the first quarter of 2006 and will be conducted at over 150 clinical sites in the United States and Canada.
Novacea is a privately held biopharmaceutical company based in South San Francisco, Calif., that licenses, develops and commercializes agents for the treatment of cancer.
| Issuer: | Novacea Inc.
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| Issue: | Series C financing
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| Tranche: | Second
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| Amount: | $25 million
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| Investors: | Apax Partners, Domain Associates, New Enterprise Associates, ProQuest Investments, Versant Ventures, Sofinnova Ventures
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| Announcement date: | Jan. 4
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