Scynexis wants to raise $25M by May
DURHAM, NC - Scynexis has raised more than $11 million out of a $25 million goal in its latest fundraiser, according to CEO Yves J. Ribeill. “It’s going very well,” says Ribeill, who expects to have completed the $25 million round by May. The money will help the company fund studies for a proposed hepatitis C drug, which currently is in the middle of phase two clinical trials. Ribeill hopes to start phase three trials in 2013. The company could seek FDA approval in 2015 or 2016, provided everything goes as planned. Once phase two concludes, Scynexis will start looking for a partnering...
Read MoreChapel Hill, NC-based Achelios aims at migraines
CHAPEL HILL, NC - CEO Crist Frangakis spoke in greater detail Friday about the $3 million being raised by his Chapel Hill startup Achelios Therapeutics. “We’re taking some products into clinical development,” Frangakis says, adding that the products are aimed to treat migraines. “We’re still in the midst of finalizing a round.” Still, he’s short on details: “It’s still very early.” Earlier this week, Achelios Therapeutics raised $1.9 million in equity, according to an SEC filing. In all, the company, which obtained LLC status at the end of January, hopes to raise $3...
Read MoreDiabetes drug developer Lumena raises $2.5M; compound regulates blood sugar
RESEARCH TRIANGLE PARK, NC – Diabetes treatment developer Lumena Pharmaceuticals has secured the $2 million it needs to start clinical trials and a little bit extra for good measure. The company’s first round of investment was oversubscribed, leading to a haul of $2.5 million, according to amended filings made with the Securities and Exchange Commission. Lumena’s investors are venture capital firms Pappas Ventures and RiverVest Venture Partners. The new capital means the company can proceed to human tests for its novel type 2 diabetes treatment, which aims to develop a pill to...
Read MoreAchelios Therapeutics raises $1.9 million
CHAPEL HILL, NC – Newly formed pharmaceutical company Achelios Therapeutics reported in an SEC filing Tuesday that it has raised $1.9 million from 22 investors. The identity of the investors wasn’t disclosed in the filing, which listed the minimum investment from outside investors as $10,000. Achelios Therapeutics said in the filing that it hopes to raise a total of $3 million. The company, an LLC since January 30, is based in Chapel Hill and listed Crist Frangakis as its...
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