FierceBiotech Names VentiRx Pharmaceuticals as One of the 'Fierce 15' Biotech Companies of 2010
SAN DIEGO, Sept. 15 /PRNewswire/ -- VentiRx Pharmaceuticals, Inc., a biopharmaceutical company focused on the development of novel Toll-Like Receptor 8 (TLR8) candidates for the treatment of cancer, respiratory and inflammatory diseases, announced today that it has been named to the annual FierceBiotech "Fierce 15" list, designating it as one of the top and most promising biotech companies in the industry. Every year, FierceBiotech evaluates hundreds of private companies, which is based on a variety of factors such as the strength of its technology, partnerships and a competitive market position.
"VentiRx started the year with a venture capital bang, adding $25 million to its bank account and bringing its total to more than $50 million," says John Carroll, editor of FierceBiotech. "It's using its money to advance small molecule drugs that spur Toll-like receptors - specifically TLR8 -- to rev up an immune response to fight off disease. And it plans to make the money last. When the developer pulled the wraps off its venture round, co-founder Michael Kamdar said that the company was well set to make it through to the next big funding event -- whether that turns out to be a partnership, a buyout or an IPO."
"We are honored to be recognized as one of the 'Fierce 15' by FierceBiotech," said Michael Kamdar, Co-Founder and Chief Business Officer at VentiRx. "We have made significant clinical progress in advancing our novel TLR8 agonists for the treatment of allergy and oncology, and look forward to further advancing our leadership position in TLR8 therapeutics."
"We believe that TLR8 is an exciting target relevant to many important human diseases," said Robert Hershberg, M.D., Ph.D., Co-Founder and Chief Medical Officer at VentiRx. "We are encouraged by the data we've seen to date with our VTX-1463 candidate for allergic rhinitis and VTX-2337 for oncology, and look forward to presenting additional data as it becomes available this year."