|
||
|
Venture capital firms and funds in Europe 128 Venture Capital Group 3i Venture Capital Accuitive Medical Acer Venture Capital Act Venture Capital Ltd Adelaide Venture Capital Email ADS Ventures Boston Advantages Of Venture Capital Advent Venture Capital Agio Capital Alabama Venture Capital Alaska Venture Capital All Stages Venture Capital American Venture Capital Analysis Venture Capital Analyze Venture Capital Angel Capital Appraisal Venture Capital Arch Venture Capital Argentina Venture Capital Arizona Venture Capital Arkansas Venture Capital Arrowpath Venture Capital Assess Venture Capital Assessment Venture Capital Atlas Venture Capital ATV Venture Capital Aurora Fund Australia Venture Capital Austria Venture Capital Automotive Venture Capital AZ Venture Capital VCgate More Venture Capital Terms and Topics
-
Traversa Therapeutics Completes Series B Financing
April 2nd, 2009 No comments
Company Continues to Advance toward the Clinic with Novel RNA Interference Technologies
LA JOLLA, Calif. Traversa Therapeutics, a preclinical-stage biopharmaceutical company developing novel RNA interference (RNAi) technologies, announced today the successful completion of its Series B financing, raising $5 million. The financing was led by Morningside Venture Investments Ltd., and joined by Mesa Verde Venture Partners and existing investors.
Proceeds from the investment will support the advancement of Traversa’s RNAi oncology programs into clinical trials. “We are pleased to have completed this financing and are thrilled at the level of industry support that we are receiving,” said Hans A. Petersen, MBA, Traversa’s President and Chief Executive Officer. “These funds, in conjunction with pending collaboration and licensing revenue will provide the company with two years of operating cash, and will enable Traversa to begin its first Phase I clinical trial.”
“RNAi continues to show promise as a new drug class in the fields of oncology, infectious diseases, metabolic diseases and ophthalmology. We are very pleased to continue supporting Traversa’s development efforts through this investment,” said Isaac S. Cheng, M.D. of Morningside. In conjunction with the financing, Dr. Cheng has joined Traversa’s board of directors representing Series B shareholders.
“It has become clear in the field of RNAi that delivery is the rate limiting step. Traversa’s siRNA and DsiRNA delivery technologies provide a novel, effective and non-toxic alternative to liposomal delivery in vivo,” said Francois Ferre, Ph.D., Traversa Director.
About Traversa
Traversa Therapeutics, Inc. (www.traversathera.com) is a La Jolla, California-based biopharmaceutical company engaged in the discovery, development and commercialization of RNAi anti-cancer therapeutics. The company strives to rapidly advance siRNA and DsiRNA platform delivery technologies for use in its internal oncology programs and by other pharmaceutical companies in targeting a wide variety of acute, chronic and infectious human diseases.
About Morningside
Morningside (www.morningside.com) is a diversified investment group founded in 1986 by the Chan family of Hong Kong. It is engaged primarily in private equity and venture capital investments. The group has investments in North America, Europe, across Asia-Pacific, and since 1992, in Mainland China. Morningside was one of the earliest institutional investors in China’s internet industry and in recent years has been an active investor in China’s emerging biotechnology sector.
About Mesa Verde Venture Partners
Mesa Verde Venture Partners’ (www.mesaverdevp.com) charter is to invest in a diversified portfolio of early-stage biotechnology and medical technology companies in the Southwest. Areas of focus include drug discovery/tools, medical devices and diagnostics and healthcare information technology. Mesa Verde Venture Partners is the successor fund to IngleWood Ventures of San Diego. Sanderling Ventures is the lead investor behind Mesa Verde Venture Partners.
Source: Traversa Therapeutics
Leave a reply
Latest Headlines:
Friday August 31, 2012
Zscaler Secures $38 Million Investment Round
Wednesday November 30, 2011
Health Care Solutions companies Infinity Pharmaceutics, NanoVobronix and Selventa raise funds.
Monday November 21, 2011
Panda Power opens $420 Million Fund for Solar and Natural Gas Projects
Thursday November 17, 2011
Better Place raises $200 Million for Electric Cars in the Series C of Funding
Wednesday November 16, 2011
Accel Partners raise $100 Million Big Data Fund to Invest in Hadoop, NoSQL and other Companies
Tuesday November 15, 2011
Skimlinks raises $4.5 Million to help Bloggers Increase their Gains
Monday November 14, 2011
Standing Cloud raises $3 Million to help New Cloud Providers grow Faster
Thursday November 10, 2011
Zillow acquires Diverse Solutions for $7.8 to help Real Estate Agents increase their Visibility