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Celator Raises $22.5 Million For Combination Chemo Drugs

Celator Pharmaceuticals, a biotech company with offices in Princeton, NJ and Vancouver, BC, said it has raised $22.5 million in a third round of venture financing to develop new combinations of chemotherapy drugs for cancer. Domain Associates, Ventures West, Quaker BioVentures, TL Ventures, GrowthWorks Capital and BDC Capital all participated. Kenneth Galbraith, general partner at Ventures West in Vancouver, who we have noted has his finger on the pulse of biotech in Vancouver, is joining Celator’s board of directors.

Luke Timmerman is the National Biotechnology Editor for Xconomy. You can e-mail him at ltimmerman@xconomy.com, call 206-624-2374, or follow him on Twitter at http://twitter.com/ldtimmerman.

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