Cerulean Pharma (NASDAQ: CERU) is trading higher following the effect of a $20 million common stock purchase agreement and a registration rights agreement with Aspire Capital Fund, LLC. Immediately following the execution of the purchase agreement, announced this morning, Aspire purchased 800,000 shares of common stock for $1.25 per share. The clinical-stage company developing nanoparticle-drug conjugates (NDCs) also this morning announced its strategic collaboration with Novartis (NYSE: NVS) to develop NDC product candidates combining Cerulean’s proprietary Dynamic Tumor Targeting™ technology with Novartis’ proprietary compounds directed at up to five targets.
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About Cerulean Pharma
The Cerulean team is committed to improving treatment for people living with cancer. We apply our Dynamic Tumor Targeting™ Platform to create a portfolio of NDCs designed to selectively attack tumor cells, reduce toxicity by sparing the body’s normal cells, and enable therapeutic combinations. Our first platform-generated NDC clinical candidate, CRLX101, is in multiple clinical trials in combination with other cancer treatments, all of which aim to unlock the power of combination therapy. Our second platform-generated NDC clinical candidate, CRLX301, is in a Phase 1/2a clinical trial. For more information, please visit www.ceruleanrx.com
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