Athenagen, Inc.

Angiogenesis-focused drug maker raises $5.69M in financing

Published in Lab Business Week, October 23rd, 2005

Athenagen, Inc., a privately held pharmaceutical company founded by two Stanford University scientists, announced that it will accept a $5.69 million investment in its first round of financing.

The investment consists of $3.19 million that closed last week and an additional funding commitment of $2.50 million upon reaching certain milestones within the next 12 months. The financing was led by Sanderling Ventures and included participation from Life Science Angels.

Athenagen is developing small-molecule drugs designed to either inhibit or enhance angiogenesis, based on the discovery of a new endothelial cell angiogenesis pathway. Athenagen's lead...

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Source: Lab Business Week (2005-10-23)

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