Aerovance inhales $38M for asthma drugs
Aerovance, developer of asthma medications, just brought in $38 million in a post-recapitalized third round of funding to push its lead drug candidate through a second phase of clinical trials. The company has already received $20 million, with the option of claiming the remaining $18 million as necessary.
Based in Berkeley, Calif., the company has already seen its drug, Aerovant, through the first part of second-phase trials. The company will use the new money to complete… Continue Reading
Life-science briefing: Friday, March 28, 2008
TODAY’S HEADLINES:
VaxGen, Raven Bio terminate merger agreement (release)
Aerovance gets $20M in venture debt for respiratory disease (release)
EKOS raises $5M for ultrasound catheters (peHUB)
Intelligent Bio-Systems draws $353K for high-speed genome sequencing (peHUB)
Quintessence Bio takes in $5M for cancer-directed proteins (VentureWire)
7 Health Ventures adds three members to investment team (release)
Contract manufacturer Cytovance names Darren Head CEO (release)
VaxGen, Raven Bio terminate merger agreement – A weirdly structured, always hard-to-understand merger between the failed vaccine biotech VaxGen and startup Raven Biotechnologies… Continue Reading
Aerovance, asthma treatment company, finishes raising $60M
Aerovance, a Berkeley, Calif biopharmaceutical company looking to find a partner for its asthma treatement, Aerovant, reached back to year-old news and announced it has finished raising $60 million in a third round of financing.
There is “substantial very, very strong interest” by pharmaceutical and biotech companies in the asthma treatment, the company told VentureWire (sub required), though no specifics were given.
Here is the company’s announcement of the funding last year.
The company’s drugs target severe… Continue Reading