Ception raises $63 million in placing

Ception Therapeutics, an emerging USA-based biopharmaceutical company discovering and developing novel biologic and small-molecule agents to address unmet medical needs, says that it has raised $63.0 million through a series C private placement of preferred stock. Essex Woodlands Health Ventures led the round and was joined by a consortium of both current and new investors, including Investor Growth Capital, MDS Life Sciences Technology Fund II (managed by MDS Capital), New Science Ventures and Aperture Venture Partners.

Ception Therapeutics will use the proceeds from the transaction primarily to advance its late-stage biologic anti-inflammatory programs and to pursue further progression of a small-molecule anti-tumor necrosis factor and several other discovery projects.

"This financing provides Ception with the capital necessary to move our most advanced programs to the next stage of clinical development and further progress our preclinical programs," said Steve Tullman, the firm's chief executive.