New York, Oct. 20 - Alinea Pharmaceuticals, Inc. announced it raised $45 million in a series A financing round.
The round was led by MPM Capital, with participation from SV Life Sciences and Burrill & Co., who played an active role in structuring the deal, and Flagship Ventures.
In conjunction with the financing, Robert Mashal became president and chief executive officer.
Alinea's initial assets were licensed from the Institute for Diabetes Discovery, a Branford, Conn., research organization focused on metabolic diseases.
Covered by the licenses are lidorestat, a compound in phase II trials for the prevention of the complications of diabetes, and several preclinical programs, the most advanced of which targets protein tyrosine phosphatase 1b (PTP1b). Alinea and the Institute for Diabetes Discovery will work together under a multi-year research and development agreement to bring compounds to the development candidate stage.
Alinea is based in Cambridge, Mass.
| Issuer: | Alinea Pharmaceuticals, Inc.
|
| Issue: | Series A financing round
|
| Amount: | $45 million
|
| Investors: | MPM Capital (lead), SV Life Sciences, Burrill & Co., Flagship Ventures
|
| Announcement date: | Oct. 20
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
