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Odyssey Thera, Inc. Announces New Equity Financing and Initiation of Research Contract With Merck & Co., Inc. (MRK)


2/14/2013 9:26:12 AM

SAN RAMON, Calif., Feb. 14, 2013 /PRNewswire/ -- Odyssey Thera, Inc., a privately held biotechnology company, announced today a new equity financing and the initiation of a research service contract with Merck, known as MSD outside the U.S. and Canada.

Additional participants in this financing include HBM Partners, Burrill & Company, and Lonza. The financing, comprising new funds and debt conversion, totals $2.8M. These funds will be used to support continued advancement and expanded commercialization of Odyssey Thera's technologies and products.

"The support from current and new investors will expedite commercialization of Odyssey Thera technologies," said Dr. John K. Westwick, President and CEO of Odyssey Thera. "We look forward to supporting Merck and other leading discovery and development programs with these validated capabilities."

About Odyssey Thera, Inc.

Odyssey Thera was founded over ten years ago with the goal of transforming drug discovery through deep cellular analysis. Odyssey's patented technologies measure disease-relevant pathway activity within living human cells. Unprecedented throughput and breadth of high-content assays enables assessment of key signaling nodes as well as the cellular system, allowing for rapid identification of drug candidates with optimal efficacy and safety profiles. The Company's leadership position in fundamental patents, technology, and know-how relating to cellular analysis has led to alliances with Pfizer, Abbott, Merck, the U.S. EPA, and others. To learn more about Odyssey Thera, please visit www.odysseythera.com.

SOURCE Odyssey Thera, Inc.


Read at BioSpace.com

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