Venture Capital Firm Sells $2.6 Million of G1 Therapeutics Stock


By Charlotte Chilton, NC BIZ News

MedImmune Ventures Inc. has sold $2.6 million worth of its stake in G1 Therapeutics, according to a filing with the Securities and Exchange Commission.

MedImmune Ventures, a large holder of G1 Therapeutics, sold 133,906 shares of common stock at $19.75 for total value of 2,644,644.

MedImmune Venture is a venture capital fund investing in early to late biotechnology companies with the focus on human therapeutics.

After the transaction, MedImmune owns 3.15 million shares of G1 Therapeutics worth more than $60 million.

G1 Therapeutics is a Durham-based biopharmaceutical company developing small molecule therapies specific for cancer treatments.

In November, the company entered a clinical trial collaboration with AstraZeneca for the treatment of EGFR mutation-positive non-small cell lung cancer.

Mark Velleca has served as chief executive officer of G1 Therapeutics since 2014. Prior to G1 Therapeutics, Velleca worked at CGI Pharmaceuticals and was senior advisor in research and development strategy and corporate development after the company was acquired by Gilead.

Velleca was an attending physician at Yale New Haven Hospital and on the faculty of the Yale University School of Medicine.

G1 Therapeutics listed with Nasdaq, under the ticker symbol GTHX, in May after raising $105 million in its initial public offering.

The company’s stock price is currently trading at $18.88, down 0.68 percent since a market open of $18.97.

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