Conforma Therapeutics Corporation announced today the closing of a $30 million private placement of its Series C stock. The round was led by S.R. One, Limited and included new investors Lilly BioVentures, Novo A/S, RBC Capital Partners and RiverVest Venture Partners. Also participating were existing investors Domain Associates, Forward Ventures, Inglewood Ventures and ProQuest Investments. Conforma plans to use the funds to continue the development of its portfolio of small molecule oncology drugs. These drugs, directed to the HSP90 family of cellular chaperones, exploit specific molecular differences that distinguish cancer from normal tissues and induce the targeted destruction of cancer-causing proteins. "We are gratified that our approach to cancer therapy has gained the support and confidence of this very sophisticated group of investors," said Lawrence C. Fritz, Ph.D., president and chief executive officer of Conforma. "We will apply these new financial resources to build our clinical capabilities and advance our first drug candidates to human testing, as well as continue to build our product pipeline."

"Conforma's technology represents a fundamentally new approach to cancer therapy - the targeted destruction of deregulated signaling proteins," said Maxine Gowen, Ph.D., partner with S.R. One. "We believe that this approach, driven by Conforma's experienced management team, will successfully deliver important new drugs to cancer patients."

"Conforma has established a leadership position in one of the most promising and exciting areas of oncology," noted Stuart Collinson, Ph.D. of Forward Ventures and chairman of Conforma's board of directors. "I look forward to working with our new investors, all of whom bring important skills and experience to the Company."

About Conforma Therapeutics

Conforma Therapeutics, a San Diego-based biopharmaceutical company, is focused on the design and development of novel drugs for the selective treatment of cancer. Conforma is developing drugs that target the cellular HSP90 family of molecular "chaperones" that control protein shape or conformation, including that of key signaling molecules involved in the growth and survival of tumor cells. HSP90-directed drugs selectively induce the degradation of these cancer-promoting proteins, leading to tumor cell death. In addition to cancer, Conforma's technology also promises to have applications in other areas of medicine, including inflammation, virology, and central nervous system disorders. Additional information regarding Conforma is available at www.conformacorp.com.