Healthcare Mergers, Acquisitions & Ventures Week
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Acuity Pharmaceuticals
Pharmaceutical company leapfrogs from seed funding to major milestones
November 6th, 2004
BioAdvance, the Biotechnology Greenhouse of Southeastern Pennsylvania, congratulated its portfolio company Acuity Pharmaceuticals on the closing of its $15 million series B financing and the initiation of human trials for its pioneering treatment for macular degeneration, the leading cause of adult blindness. Acuity is harnessing a recently discovered biological phenomenon called RNA interference, or RNAi, to turn off the genes associated with this common, disabling condition. Its lead product candidate, Cand5, is the first therapy based on this promising new approach to enter human clinical trials. Acuity progressed Cand5 into human studies less than 2 years after the...
Source: Healthcare Mergers, Acquisitions & Ventures Week (2004-11-06)
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