Healthcare Industry News: TargeGen
News Release - January 17, 2006
CoLucid Pharmaceuticals Announces $16.5 Million Series A FinancingINDIANAPOLIS, Ind., Jan. 17 (HSMN NewsFeed) -- CoLucid Pharmaceuticals, Inc., a biopharmaceutical company focused on new therapeutics for neurological diseases, announced a $16.5 million Series A financing. The company was formed with a novel clinical stage migraine molecule licensed from Eli Lilly and Company and a portfolio of preclinical assets based on a robust bifunctional neuromodulator chemistry platform, which originated at Sention, Inc. Pappas Ventures seed funded and formed the company. The Series A financing was co-led by Domain Associates and Pappas Ventures with other investors including Triathlon Medical Ventures and Pearl Street Venture Funds.
The Series A funding will be used to further progress the lead molecule through clinical trials and to advance the preclinical chemistry platform to a point of having a clinic-ready program.
Arthur Pappas of Pappas Ventures, Jesse Treu of Domain Associates and James White, an independent biopharmaceutical consultant, will be joining the CoLucid Board of Directors.
About CoLucid Pharmaceuticals, Inc.
CoLucid Pharmaceuticals is a development stage biopharmaceutical company developing and discovering therapeutics that will be used to treat neurological dysfunctions. CoLucid develops pharmaceuticals with novel mechanisms of action to treat migraine headaches. The company also possesses a robust chemistry platform that will produce unique bifunctional neuromodulators to treat indications such as Alzheimer's disease. For more information, please contact CoLucid Pharmaceuticals at 317-684-6703.
About Pappas Ventures
Pappas Ventures is a Research Triangle Park, North Carolina-based venture capital firm that invests nationally in the life science industry. Founded in 1994, Pappas has $230 million under management and recently began investing its third venture capital fund. Among Pappas Ventures' more than 40 current and former portfolio companies are Arena Pharmaceuticals, Bayhill Therapeutics, NuVasive, Panacos Pharmaceuticals, Peninsula Pharmaceuticals, Plexxikon, and TargeGen. The firm's primary investment focus is on product oriented biotechnology and pharmaceutical companies with a secondary focus on medical technologies. For more information visit www.pappasventures.com.
About Domain Associates
Domain Associates, LLC is a venture capital firm focused on health care product opportunities including biopharmaceuticals, medical devices and related businesses. Over its 20 year history, Domain has been involved in the creation of over 170 companies. Its latest venture capital fund is Domain Partners VI, L.P., which is capitalized at $500 million. Domain is located in Princeton, NJ and in Laguna Niguel, CA. For more information visit www.domainvc.com.
About Triathlon Medical Ventures
Triathlon Medical Ventures is a Midwest-based venture capital firm that invests exclusively in the life sciences. They provide equity capital to early and expansion stage companies with proprietary biomedical technology platforms or products addressing significant human healthcare needs. Triathlon is geographically focused on early stage opportunities in the Midwest but will also invest in later stage companies nationwide. We are headquartered in Cincinnati, with offices and partners in Indianapolis, Louisville and St. Louis. The partners are industry veterans with extensive experience as both operational managers and venture capitalists. For more information visit www.tmvp.com.
About Pearl Street Venture Funds
Pearl Street Venture Funds invests in early staged life sciences companies primarily in the biotech, medical device, pharmaceutical and agri-bio sectors. The fund actively seeks therapeutic product companies, "best of breed" enabling technologies and technologies that add value to the drug discovery process. Pearl Street Venture Funds possesses significant life sciences industry experience, venture capital experience and success in advising early stage companies on growth and commercialization strategies, successful exits and syndicating venture deals. For more information visit www.psvf.com.
Source: CoLucid Pharmaceuticals
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