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Viracta Therapeutics Announces Closing of Series D Preferred Stock Financing
SAN DIEGO, Oct. 28, 2019 /PRNewswire/ -- Viracta Therapeutics, Inc., a precision oncology company targeting virus-associated malignancies, today announced the closing of a Series D Preferred Stock financing. The financing was led by Taiwania Capital Management, a Taiwan and US-based venture capital firm with $350 million in healthcare and technology funds, with participation from existing investors. In conjunction with the financing, Michael Huang, Managing Partner at Taiwania Capital Management, has been appointed to Viracta's Board of Directors.
"The Viracta team has made tremendous progress advancing our precision oncology clinical program for the treatment of EBV-positive lymphomas into Phase 2. This financing provides us with the capital necessary to continue the advancement of our program towards registration studies in 2020 and expand into additional EBV-positive malignancies," said Ivor Royston, MD, President and Chief Executive Officer of Viracta. "The addition of Taiwania Capital strengthens our investor syndicate and it is our pleasure to welcome Michael Huang to the Board of Directors."
Viracta's lead program, an out-patient, all-oral combination therapy of nanatinostat and valganciclovir, is being evaluated in an ongoing Phase 2 clinical trial for Epstein-Barr virus (EBV) positive lymphoma. Proceeds from the financing are expected to be used to complete the Phase 2 study and subsequent initiation of registration studies, as well as for other general corporate purposes. Additionally, the Company intends to pursue the application of its Kick and Kill approach in other EBV-associated malignancies, such as nasopharyngeal carcinoma, and other virus-related cancers.
"Viracta has made great progress in the advancement of their clinical program for the treatment of EBV-positive lymphomas and we are highly encouraged by the data generated to date," said Michael Huang. "Taiwania Capital Management is pleased to support the next phase of the Company's development."
About Viracta Therapeutics, Inc.
Viracta is a precision oncology company targeting virus-associated malignancies. The Company's proprietary lead molecule, nanatinostat, is currently being evaluated as an oral combination therapy with valganciclovir in a Phase 2 clinical trial for Epstein-Barr virus positive lymphomas. Viracta is pursuing application of this Kick and Kill approach in other EBV-associated malignancies, such as nasopharyngeal carcinoma, and other virus-related cancers.
For additional information please visit www.viracta.com.
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SOURCE Viracta Therapeutics, Inc.