Oncology-focused, bio-pharmaceutical company Gloucester Pharmaceuticals is best known for achieving U.S. Food and Drug Administration (FDA) approval for its drug, Istodax®, a novel histone deacetylase inhibitor (HDAC), for the treatment of cutaneous T-cell lymphoma, a type of non-Hodgkin’s lymphoma.
Like many privately held life sciences companies, Gloucester faced many obstacles while striving to accomplish its goals and maintaining the capital necessary to continue the pivotal clinic studies needed to achieve FDA approval and bring the drug to market.
Rho Ventures invested in multiple financing rounds, including co-leading the first institutional round of financing. Rho helped Gloucester build a strong leadership team with the appointment of CEO Alan Colowick in 2008. Alan’s unique and extensive background in clinical, regulatory and commercial oncology proved to be instrumental to the company’s success.
“Rho knows how to strike the right balance of always being available and involved yet not intrusive,” said Dr. Colowick. “Rho's thoughtful and scientific approach was the catalyst for many of the ideas we implemented, resulting in the overall success of the company. The firm’s continued commitment to seeing the product through to maturity, made a real partnership possible.”
In December 2009, Celgene Corp. (CELG) acquired Gloucester. Today, Gloucester is an integrated part of the world’s leading hematology oncology company.