KANSAS CITY, Kan. and BOSTON, March 7, 2013 /PRNewswire/ -- Aratana Therapeutics, a biopharmaceutical company developing innovative medicines for cats and dogs (companion animals), today announced it has closed on a $10 million non-dilutive financing with Square 1 Bank, a full service commercial bank dedicated exclusively to serving the financial needs of the venture capital community and entrepreneurs in all stages of growth and expansion. Proceeds will be used to fund general corporate purposes.
"We are delighted to have the continued support of Square 1 Bank," stated Steven St. Peter, M.D., President and Chief Executive Officer of Aratana Therapeutics. "We're grateful Square 1 has remained a supporter of Aratana since its inception and are eager to extend our relationship as we advance our programs."
Scott Foote, senior vice president in Square 1 Bank's Life Sciences practice, added, "We are pleased to provide Aratana with the financing solutions it needs to support future developments in the animal health market, and we look forward to the company's future success."
About Aratana Therapeutics
Aratana Therapeutics is a biopharmaceutical company positioned to deliver high quality new medicines that address significant therapeutic needs for cats and dogs (companion animals). Aratana licenses and develops proprietary, patent-protected compounds acquired from human pharmaceutical and biotechnology companies and then develops strategies to maximize the value of the programs for the animal health market. For more information, please visit www.aratanatherapeutics.com.
About Square 1 Bank
Square 1 Bank is a full service commercial bank dedicated exclusively to serving the financial needs of the venture capital community and entrepreneurs in all stages of growth and expansion. Square 1's expertise, focus and strong capital base provide flexible resources and unmatched support to meet our clients' needs. The bank offers tailored products and solutions aided by the latest in technological innovations. Square 1 has offices coast to coast in Austin, Boston, Denver, Durham, Los Angeles, New York, San Diego, Seattle, Silicon Valley and Washington, DC. For more information, visit www.square1bank.com.
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SOURCE Aratana Therapeutics