NEWS 2006
[01/06/2006]
CANBAS RAISES $20 MILLION
Numazu-city, Shizuoka, Japan January 06, 2006
CanBas Co., Ltd. ("CanBas"), a privately held drug discovery company located in Numazu-city, Shizuoka, Japan, announced today that the company has raised approximately $20 million (JPY 2,359 million) in the 4th financing. This round, which closed November 30, 2005, was co-led by NIF SMBC Ventures and MVC (Mitsui Ventures). 24 other VC firms and 8 strategic investors, including Nikko antfactory, MBL Venture Capital, Mizuho Capital, Nomura Securities and Marubeni, participated in this round.
About CanBas
CanBas was spun off of the research of three scientists from the Nagoya City Medical School and Fujita Health Medical School. These scientists founded CanBas as a drug development biotech with help by Angels and Venture Capitalists in 2000.
CanBas's core technologies include drugs that target the G2 checkpoint and a screening system to find selective blockers of the G2 checkpoint.
The company's leading compound CBP501 is currently under investigation in Phase I clinical trial in the United States as the world's first G2 checkpoint blocker.
CanBas is also developing techniques to best determine the specific drug sensitivity of individual cancers from a patient, to increase the probability of prescribing a successful drug regime.
Contact:
For more information about CanBas, please visit www.canbas.co.jp.
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