BioSpace.com

Biotech and Pharmaceutical
News & Jobs
Search the Site
 
   
Biotechnology and Pharmaceutical Channel Medical Device and Diagnostics Channel Clinical Research Channel BioSpace Collaborative    Job Seekers:  Register | Login          Employers:  Register | Login  

NEWSLETTERS
Free Newsletters
Archive
My Subscriptions

NEWS
News by Subject
News by Disease
News by Date
PLoS
Search News
Post Your News
JoVE

CAREER NETWORK
Job Seeker Login
Most Recent Jobs
Browse Biotech Jobs
Search Jobs
Post Resume
Career Fairs
Career Resources
For Employers

HOTBEDS
Regional News
US & Canada
  Biotech Bay
  Biotech Beach
  Genetown
  Pharm Country
  BioCapital
  BioMidwest
  Bio NC
  BioForest
  Southern Pharm
  BioCanada East
  US Device
Europe
Asia

DIVERSITY

INVESTOR
Market Summary
News
IPOs

PROFILES
Company Profiles

START UPS
Companies
Events

INTELLIGENCE
Research Store

INDUSTRY EVENTS
Biotech Events
Post an Event
RESOURCES
Real Estate
Business Opportunities

 News | News By Subject | News by Disease News By Date | Search News
eNewsletter Signup
Miles
Km80.5

   

Arete Therapeutics Closes $16.7 Million in Final Tranche of Its Series A Financing


11/19/2008 6:14:07 AM

HAYWARD, Calif., Nov. 19 /PRNewswire/ -- Arete Therapeutics Inc., a privately-held biotechnology company developing first-in-class soluble epoxide hydrolase (s-EH) inhibitors, today announced that it has closed the final tranche of its Series A financing. Frazier Healthcare Ventures and Alta Partners co-led the $16.7 million tranche, which also included existing investors Burrill & Company, Three Arch Partners, and Altitude Life Science Ventures. This financing completes the Series A round, bringing the total amount raised to date to over $51 million.

"This financing provides substantial funding for Arete as we look toward the initiation of our Phase II clinical trial in the first quarter of 2009 using AR9281 for the treatment of metabolic syndrome," said James Sabry, M.D., Ph.D., President and Chief Executive Officer of Arete Therapeutics. "We appreciate our investors' continued commitment to the value of our s-EH inhibitor platform."

"In the last six months, Arete successfully completed a Phase I clinical trials' program for AR9281, expanded its executive management team and completed extensive preclinical studies of s-EH inhibitors," stated James Topper, M.D., Ph.D., Chairman of the Board of Arete Therapeutics and General Partner of Frazier Healthcare Ventures. "Arete's extensive proprietary position in s-EH inhibitors, together with its efficient, focused drug discovery and development organization, position the Company to address the growing healthcare epidemic of metabolic syndrome and identify new therapeutics for cardiovascular and inflammatory disease."

About Arete Therapeutics Inc.

Arete Therapeutics is a privately-held biotechnology company dedicated to the discovery and development of novel drugs to treat metabolic, inflammatory and cardiovascular disease. It is the world's leading company focused on s-EH (soluble epoxide hydrolase), an important enzyme for the metabolism of arachidonic acid that plays an essential role in metabolic, inflammatory and cardiovascular physiology. The Company was founded by Dr. Bruce Hammock, a Professor at the University of California, Davis, who discovered s-EH. For more information on Arete Therapeutics, please visit http://www.aretetherapeutics.com.

Source: Arete Therapeutics Inc.

Read at BioSpace.com

   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES