San Diego-based Cylene Pharmaceuticals reported today that it has raised $12M in a financing round, from its existing investors, as it kicks off a Phase I clinical trial. The developer of treatments for multiple myeloma said the funding came from announced the simultaneous closing of a $12 million financing with participation from existing investors including Sanderling Ventures, HBM BioVentures (Cayman) Ltd., Novartis BioVenture Fund, BioVentures Investors, Lilly Ventures, Mitsui & Co. and Morningside Venture Investments Ltd. The trial is for the firm's oral CK2 inhibitor, CX-4945. More information »