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Financings Roundup
(BioWorld Today Via Acquire Media NewsEdge) , of Seattle, said it formed new company GPC-Rx Corp., a start-up from the California Institute of Technology, to focus on an approach for cost-efficient development of superior drugs targeting G-protein-coupled receptors. The new firm raised an undisclosed amount of money in a Series A investment led by a syndicate including Alexandria Real Estate Equities, Amgen Ventures, ARCH Ventures Partners, OVP Venture Partners, PPD Inc. and WRF Capital.
? Alseres Pharmaceuticals Inc., of Hopkinton, Mass., said it raised gross proceeds of $1 million to fund its research and development programs and other general corporate purposes. The firm entered a securities purchase agreement with Robert Gipson for the private placement of 543,478 shares of common stock - together with warrants to purchase 543,478 additional shares at an exercise price of $1.84 per share - at a total purchase price of $1.84 each. Alseres develops therapeutic and diagnostic products for central nervous system disorders.
? Argos Therapeutics Inc., of Durham, N.C., said it closed the second and final tranche of its $35.2 million Series C round. The first tranche was completed in April. Proceeds will be used to fund ongoing Phase II trials of the company's Arcelis immunotherapy candidates in renal-cell carcinoma and HIV, as well as to support further development of its CD83 protein immunology program into an initial clinical trial in transplantation. As previously reported, the financing was led by TVM Capital and included participation from new and existing investors such as Mizuho Capital, Morningside Group, Japan Asia Investment Co., Lumira Capital, Forbion Capital Partners, CDP Capital, Intersouth Partners, Aurora Capital and GeneChem. (See BioWorld Today, April 24, 2008.)
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