Domain Continues to Invest in Rare Disease

​Domain portfolio company Celtaxsys, Inc., a clinical-stage development company focused on novel therapeutics to treat rare inflammatory diseases, recently completed a $40 million Series D financing and announced that Domain partner Nicole Vitullo will join Celtaxsys' board of directors. In addition, Celtaxsys will also receive a $5 million grant from Cystic Fibrosis Foundation Therapeutics. Several media outlets picked up the announcements.

FierceBiotech quoted Greg Duncon, Celtaxsys president and CEO, who said that the investment in his company reflects investors' support for patients with rare diseases.

Celtaxsys is developing new therapies for inflammatory diseases. The company recently gained FDA clearance for a Phase 2 clinical trial of its lead candidate therapeutic, CTX-4430, in adult CF patients in the US.

Domain Associates has a history of supporting the development therapeutics for rare disease.

In the mid-1990's, Domain provided first-round financing to a small biotech called Aurora Biosciences, who was developing therapeutics for cystic fibrosis. Since acquired by Vertex Pharmaceuticals, the company developed Kalydeco, the first FDA-approved drug to target the root cause of cystic fibrosis, rather than jus the symptoms.

Domain has also been a long-time investor in aTyr Pharma (Nasdaq: LIFE), a San Diego biotherapeutics company developing first-in-class Physiocrine-based therapeutics to treat patients suffering from rare diseases. Read more about aTyr's IPO recently announced in May.

Read more on Celtaxsys from Atlanta Business Chronicle, FierceBiotech, BioCentury.