Ceptaris Secures $15M in Venture Debt

Ceptaris Therapeutics Inc , a privately held specialty pharmaceutical company today secured 15 million in venture debt financing from Silicon Valley Bank and Oxford Finance

The New Drug Application NDA for Ceptaris drug candidate mechlorethamine gel is currently undergoing review by the U S Food and Drug Administration FDA for the treatment of early stage stages I-IIA mycosis fungoides a type of Cutaneous T-Cell Lymphoma CTCL

Ceptaris received $7 5 million at closing and has access to the remaining $7 5 million if the NDA is approved by the FDA The funding will be used for ongoing operational expenses and preparation for commercialization of its investigational drug mechlorethamine gel Ceptaris primary venture capital investors include Vivo Ventures Palo Alto Investors Burrill amp Company Osage Ventures Aperture Venture Partners and BioAdvance

We are very pleased with our venture debt relationships with both SVB and Oxford and the additional capital it provides Ceptaris for pre- and post-launch activities said Stephen Tullman President and CEO at Ceptaris Management has worked with both lending institutions in prior companies including Ception Therapeutics and Vicept Therapeutics and we look forward to continuing these relationships ”

About Ceptaris Therapeutics

Ceptaris Therapeutics Inc is a privately held specialty pharmaceutical company that is developing a proprietary gel formulation of mechlorethamine hydrochloride for the treatment of early stage stages I-IIA mycosis fungoides a type of Cutaneous T-Cell Lymphoma CTCL If approved Ceptaris investigational drug would be the first topical mechlorethamine product available to treat the signs and symptoms of this rare cancer Please visit a href=”http://www ceptaris com target=”_blank”>www ceptaris com