Firm brings in $10M for cancer therapies

TAMPA — Intezyne Technologies, a clinical-stage biopharmaceutical company developing anti-cancer therapies, closed an oversubscribed $10 million Series A Preferred financing round led by existing investor Gaston Capital Healthcare Fund.

According to a press release, Intezyne has two clinical-stage programs — known as IT-139 and IT-141 — that are investigating treatment solutions for gastric, pancreatic, lung, breast, colorectal and thyroid cancer, as well as melanoma.

As part of the financing, Gaston Capital President and COO David Robb and Chief Investment Officer Glenn Walthall joined Intezyne's board of directors.

“This successful financing round puts the company on solid footing as we advance IT-139 and IT-141 through phase one and two trials,” says CEO Kevin Sill in a statement. “With compelling data and robust development rationales in a variety of different indications, our ongoing challenge is deciding which indications to prioritize in order to bring these potentially promising therapies to both patients and physicians as expediently as possible.”

According to the release, Intezyne CFO E. Russell McAllister says the company will be seeking additional capital from healthcare-focused institutional investors in a soon-to-be-launched $30 million Series B Preferred round.