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新闻
APT Pharmaceuticals Closes New $22 Million Funding Round
Burlingame, CA - October 4, 2007 - APT Pharmaceuticals, a
specialty drug development company focused on effective treatments for
significant unmet medical needs, announced today that it has closed a
$22 million Series A-2 round of financing. New investors Versant
Ventures and Great Point Partners joined existing firms Vivo Ventures
and Charter Life Sciences in the round. Coinciding with the funding,
Camille Samuels, Managing Director, Versant Ventures and David Kroin,
Managing Director, Great Point Partners have joined the APT board.
The company, which has received a total of $30 million in funding to date, will
use the new funding to advance its development pipeline which includes Pulminiq,
a Phase III drug for prevention of lung transplant rejection, a novel
cardioprotectant and several other projects.
APT also announced the appointment of Ralph Niven PhD, as Chief
Technology Officer. Dr. Niven has two decades of experience in the
operations, management and technology development of biopharmaceutical
companies and has worked extensively in all aspects of preclinical and
early clinical development. He was formerly Senior Vice President of
Preclinical Development for Discovery Labs.
"APT has all the makings of a premier drug development firm with its
experienced and respected team and their keen sense for clinical unmet
needs that address sound market segments," said Camille Samuels of
Versant Ventures.“Also, APT has a strong, capital-efficient business
model encompassing a robust therapeutic drug development strategy,”
added Samuels.
“We are extremely pleased with the outcome of this funding round,” said Dr.
Stephen Dilly, President and CEO of APT. “We have added two more
high-caliber investors to our investor base and secured the resources to
make major progress with our development pipeline. I am very excited to
welcome Camille and David onto our Board and to have Ralph join our senior
executive team. We now have the people, the products and the resources we
need to build significant value over the next few years
About APT Pharmaceuticals, Inc.
APT Pharmaceuticals, Inc. is a drug development company based in
Burlingame, California. APT is backed by several leading venture capital
firms, including Vivo Ventures, Versant Ventures and Charter Life
Sciences and by Great Point Partners, a leading healthcare investment
firm. For more information, please visit
www.aptbio.com.
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