G1 Therapeutics, a startup in Research Triangle Park that traces its roots back to 2008, raised $33 million in its second round of funding from private investors.
The 12-employee company said Thursday that funding came from a group that included Chapel Hill-based Hatteras Venture Partners and Wilmington-based Eshelman Ventures, along with five others. The funding is expected to keep G1 operating through the first quarter of 2017.
G1 previously raised $12.5 million from Hatteras and MedImmune Ventures in Maryland in 2013. The company’s is developing G1T28 to stop certain cancer cells from replicating. For cancers resistant to G1T28, the agent can be used to protect the bone marrow from damage by chemotherapy.
The product is under evaluation in Phase 1a clinical trials for safety and other reactions in healthy volunteers. Additional clinical trials are planned this year.
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The company said in its announcement that such inhibitors are generating attention noted that G1 is “the only small company with a selective agent in the clinic.” G1 also said three pharmaceutical developers “are ahead and have done much to validate this class.”