On February 18, 2009, Zoticon Bioventures completed its US$55 million Series C financing of Sopherion Therapeutics, LLC. Sopherion will use the funding to complete the pivotal Phase III clinical development program for its lead product candidate Myocet, a liposomal formulation of doxorubicin designed to reduce the risk of cardiotoxicity while preserving antitumor efficacy.
The deal is the largest VC financing of a biotechnology company to date in 2009.
Zoticon Bioventures, based in Philadelphia, Pennsylvania, is a privately held global drug development and healthcare investment firm.
Sopherion Therapeutics, LLC is a private biotechnology company based in Princeton, New Jersey, focused on developing novel anti-cancer therapies for patients suffering from advanced cancer, particularly metastatic disease.
Further information is found on Sopherion's website.