|EntreChem closed a financing round totaling 1 million EUR
June 22th, 2012 - Oviedo (Spain)
EntreChem closed a financing round totaling 1 million EUR ($1.25M) with existing shareholders of the company. This all-private funding significantly strengthens the capacities of research and development of the biotech company. These capital contributions help keep 100% ownership under local control, with Francisco Moris confirmed as Managing Director of the firm.
The capital raised represents a firm commitment by private investors with EntreChem's future development plans. The funds will help complete preclinical studies of EC-8042 and EC-70124, the company two leading drugs in oncology, and help position the company for clinical trials.