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Novira Therapeutics Completes Second Round of Seed Financing with Philadelphia Angel Syndicate


7/27/2011 8:47:34 AM

RADNOR, Pa.--(BUSINESS WIRE)--Novira Therapeutics, Inc., a privately held antiviral drug discovery company developing innovative, first-in-class therapeutics for the treatment of viral diseases, including HBV and HIV, announced that it has completed a second round of seed financing that brings the company’s early financing to approximately $2.5 million, with another $1.0 million obtained in non-dilutive grants. The financing was led by three of Philadelphia’s active angel groups, Delaware Crossing Investor Group, the Mid-Atlantic Angel Group Fund II (MAG II Fund) and Robin Hood Ventures. BioAdvance, the initial investor in the company also participated in the round. Gregory Harriman, M.D., member at Robin Hood Ventures will join Novira’s board of directors as the Board designee for the angel syndicate, and Karen Griffith Gryga, Executive Director of the Mid-Atlantic Angel Group (MAG) Funds (I & II) will take a board observer position.

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