Double vision: Ophthotech, Eyetech and Lux BioSciences
When news that the brand-new startup Ophthotech had raised a $36 million first round broke on Monday, it was clear that the venture amounted to a kind of do-over for officials of the late, unlamented Eyetech Pharmaceuticals. Eyetech, you might recall, burst onto the scene with a rocket-science aptamer-based blindness drug called Macugen and a flashy $157 million IPO, then proceeded to get its head handed to it by even better rocket science from Genentech,… Continue Reading
Life sciences briefing: Monday, Aug. 13, 2007
(UPDATED: See below.)
Featured companies: FoldRx Pharmaceuticals, Ophthotech, Pevion Biotech, Restoration Robotics, Glide Pharma, Reliant Pharmaceuticals, Nanosphere, SurModics, BioFX Laboratories
FoldRx Pharma to receive $22M against cystic fibrosis — Cambridge, Mass.-based FoldRx Pharmaceuticals, a biotech focused on diseases that result from misfolded proteins, will get $22 million over the next five years from an affiliate of the Cystic Fibrosis Foundation to further its work against the genetic lung disease. The money will be paid as FoldRx meets various developmental… Continue Reading