S*BIO Announces US$5 Million Investment by Mitsui Ventures

24-Sep-2010 - Singapore

S*BIO Pte Ltd announced a US$5 million investment by Mitsui Ventures that will support the continued development of S*BIO’s clinical programs.

“Mitsui Ventures’ financing commitment reflects the international investment community’s strong interest in our track record in advancing multiple assets through clinical development and the quality of our various preclinical and clinical programs,” said Dr. Jan-Anders Karlsson, CEO of S*BIO. “The involvement of Mitsui Ventures broadens our investor base and also enhances the company’s profile and standing in Japan and Asia.”

This investment follows the recent patient enrolment completion of S*BIO’s Phase 2 clinical trials with its orally-active JAK2 inhibitor, SB1518. S*BIO’s other lead compound SB939, a novel HDAC inhibitor is scheduled to enter Phase 2 Studies in Q3 2010.

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