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Alios BioPharma Closes $32 Million Series A Financing


6/11/2009 7:35:14 AM

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SOUTH SAN FRANCISCO, CA--(MARKET WIRE)--Jun 11, 2009 -- Alios BioPharma, Inc. announced today that it has closed its $32 million Series A preferred stock financing with $8 million from new investor SR One, the corporate venture fund of GlaxoSmithKline. The first closing was completed in December 2008, led by Novo A/S and Novartis Venture Fund with participation from the Roche Venture Fund. Kent Gossett, Partner at SR One, will be joining current board members Jack B. Nielsen, Novo A/S; Lawrence M. Blatt, Alios BioPharma; Campbell Murray, M.D., Novartis Venture Fund; and Carole Nuechterlein (Observer), Roche Venture Fund.

"SR One is pleased to join the distinguished Alios team and investor syndicate in their effort to realize the potential of Alios to develop multiple novel therapies for a variety of serious and life threatening viral infections," said Dr. Gossett. "The Alios investment demonstrates SR One's commitment to fund emerging life science companies with innovative science that has the potential to significantly advance medical care."

"We are appreciative to have SR One join the Alios team and we are very pleased that Kent Gossett will be joining our Board of Directors," said Lawrence M. Blatt, Ph.D., Founder and Chief Executive Officer of Alios. "Kent brings a wealth of both research and business experience from his 20 years in the pharmaceutical industry and we look forward to his contributions to building Alios BioPharma."

About Alios BioPharma

Alios BioPharma, Inc., an emerging biotechnology company headquartered in South San Francisco, California, is developing novel medicines to treat viral diseases by activating pathways in the innate immune system. Alios is pursuing the development of small-molecule and protein therapeutics, each addressing major commercial market opportunities. Contact:

Contacts:

Alios BioPharma Bruce Bryan, MBA Corporate Senior Director of Operations

Debra Bannister Media 530 676-8001


Read at BioSpace.com


   

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