EMERYVILLE, Calif., Aug. 18 /PRNewswire/ -- Adamas Pharmaceuticals, Inc., a privately held company, announced today that it has closed a $40 million Series D round of funding led by aeris CAPITAL AG and DAG Ventures. Earlier investors MDV-Mohr Davidow Ventures and Northgate Capital also participated in the round. In conjunction with the financing, the company announced the election of George M. Rehm, Managing Partner of aeris CAPITAL AG, and David L. Mahoney, a private equity investor, to the company's Board of Directors.
"Adamas is at an important inflection point with our rapidly advancing TCAD-therapy program for flu and two late-stage clinical development programs for neurology indications," said Gregory Went, Chief Executive Officer and Chairman of Adamas. "Proceeds from the Series D financing will fund clinical studies of TCAD therapy in the Northern and Southern hemispheres in patients infected with influenza who are at risk of serious outcomes, as well as advance us towards significant regulatory milestones in our neurology programs."
Dr. Went added, "Our Board of Directors welcomes George Rehm and David Mahoney, whose diverse expertise and perspectives will help drive Adamas' global development, partnering and US commercial planning strategies. We look forward to their contributions to our goal of developing and commercializing pharmaceutical products that improve health outcomes."
David L. Mahoney is a private equity investor and currently serves as a director of Symantec Corp. and Corcept Therapeutics. Mr. Mahoney served as co-CEO of McKesson HBOC, Inc. and as CEO of iMcKesson LLC from July 1999 to February 2001. He joined McKesson in 1990 as Vice President for Strategic Planning, and is credited with developing innovative business strategies to grow the PCS Health System subsidiary, leading to the sale of PCS to Eli Lilly & Co. Prior to joining McKesson, Mr. Mahoney was a principal with McKinsey & Company from 1981 to 1990. Mr. Mahoney is an honors graduate from Harvard Business School and Princeton University.
Adamas is an emerging pharmaceutical company focused on developing small molecule, Advantaged Therapeutics(TM) to treat neurological and infectious diseases, including influenza A, the cause of the current flu pandemic. Adamas' approach to pharmaceutical development is to identify and match proven drug mechanisms that can be developed as optimized combination drug therapies to increase safety, efficacy and compliance, thus improving upon the standard of care. Adamas is headquartered in Emeryville, California, with operations in Bangalore, India. For more information about Adamas, please visit www.adamaspharma.com.
SOURCE Adamas Pharmaceuticals, Inc.
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Web site: http://www.adamaspharma.com/