Cardiovascular drug developer Cogentus files for Chapter 7
Menlo Park, Calif.-based Cogentus Pharmaceuticals has filed for Chapter 7 bankruptcy, despite $83 million raised in equity capital. At the time of the filing, the company reported $2.2 million in assets and liabilities totaling $17.2 million.
The company was just about to launch third-phase clinical trials on its lead drug candidate, an anti-platelet therapy used to treat cardiovascular disease. The trial was expected to enroll 4,000 patients in the U.S., South America, Canada and Europe.
Congentus’ backers… Continue Reading
Life sciences briefing: Friday, Dec. 21, 2007
TODAY’S HEADLINES:
Cogentus Pharma raises $63M for blood thinners (release)
Corthera draws $23M for heart-failure drug (release)
Nanolymf seeks $2M for drug-delivery tech (release)
LineaGen pulls in $5.6M for molecular diagnostics (release)
Cogentus Pharma raises $63M for blood thinners — Menlo Park, Calif.-based Cogentus Pharmaceuticals, a specialty pharma developing combined formulations of existing drugs, raised $62.5 million in a third funding round. Investors included Keffi Group, Prospect Venture Partners, Ridgeback Capital, Apothecary Capital and Pinnacle Ventures.
Cogentus aims to combine existing… Continue Reading