CBT raises $9.8M in series A

Cancer company CBT Pharmaceuticals Inc. (Santa Clara, Calif.) raised $9.8 million in a series A round led by OrbiMed Asia. CBT's parent company is CRO Crown Bioscience International Inc. (TPex-E:6554), which seeded the biotech with $5 million earlier this year.

Early next year, CBT expects to begin a U.S. Phase I study of CBT-101 to treat c-Met receptor tyrosine kinase (c-MET, MET, HGFR, c-Met proto-oncogene) dysregulated cancers. The c-MET inhibitor is in a Phase I trial in China. ...