USA – Cardiff Oncology, Inc. (Nasdaq: CRDF), a San Diego, CA-based clinical-stage oncology therapeutics company, has entered into a securities purchase agreement, which includes common stock, non-voting Series E preferred stock and warrants for aggregate gross proceeds of $13.5m.
The round was jointly led by biotech-focused fundamental institutional investors, Acorn Bioventures and CAM Capital, at the closing price as of June 15, 2020. The proceeds will be used to accelerate the development of onvansertib and associated capital expenditures. Led by Dr. Mark Erlander, Chief Executive Officer, Cardiff Oncology (formerly Trovagene, Inc.) is a clinical-stage oncology therapeutics company developing drugs to treat cancers with the greatest medical need for new treatment options, including KRAS-mutated colorectal cancer, castration-resistant prostate cancer and leukemia. The company is developing onvansertib, a first-in-class, third-generation Polo-like Kinase 1 (PLK1) inhibitor, in combination with standard-of-care chemotherapy and targeted therapeutics. Its clinical development programs incorporate tumor genomics and biomarker technology to enable assessment of patient response to treatment. 17/06/2020
