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Cambria Pharmaceuticals Announces $5.4 Million Series A Financing


4/22/2008 7:44:38 AM

WOBURN, Mass.--(BUSINESS WIRE)--Cambria Pharmaceuticals, Inc., a privately held biopharmaceutical company, announced today that it has closed a $5.4 million Series A financing. Participating investors included Biogen Idec New Ventures, CommonAngels, and a number of individual investors.

“We believe that this Series A funding is a validation of Cambria’s novel approach to identifying new therapeutics for high-profile neurological diseases for which there is a clear unmet need. This investment will be used, along with a comparable amount of venture philanthropy funding that we have previously obtained, to advance our lead program in ALS, as well as drug discovery efforts for other serious neurological disorders,” stated Leo Liu, M.D., President and CEO.

In addition, the Company has incorporated in Delaware and changed its name to Cambria Pharmaceuticals, Inc. from Cambria Biosciences LLC to reflect its strategic focus on discovering first-in-class, disease-modifying small molecules to address neurological disorders. A new Board of Directors will be constituted in concert with this corporate conversion.

About Cambria Pharmaceuticals

Cambria Pharmaceuticals is focused on the discovery of innovative treatments for serious and progressively disabling neurological disorders. The Company exploits recent discoveries in the genetic basis of these disorders to engineer novel disease models and identify first-in-class, disease-modifying compounds. Cambria leverages collaborative relationships with academic institutions and patient-focused foundations to advance its programs in ALS (Lou Gehrig's disease) and other serious neurological diseases.

www.cambriapharma.com

Contact:

MacDougall Biomedical Communications Kari Watson, 781-235-3060

Source: Cambria Pharmaceuticals, Inc.


Read at BioSpace.com

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