Healthcare Industry News: Viamet Pharmaceuticals
News Release - June 7, 2007
Viamet Pharmaceuticals Raises $4 Million Round of FinancingDrug Discovery and Development Company Focused on Metalloenzymes Closes Series A Round
RESEARCH TRIANGLE PARK, N.C.--(HSMN NewsFeed)--Viamet Pharmaceuticals Inc., a biotechnology company targeting metalloenzymes in the fields of infectious disease, inflammation and oncology, announced today that it has closed a $4 million Series A financing round.
The financing was co-led by new investor Hatteras Venture Partners and founding investor Intersouth Partners, which previously provided seed funding for the company. Douglas Reed of Hatteras Venture Partners will join Garheng Kong of Intersouth Partners on the company's Board of Directors.
"This Series A financing will support the rapid development of our metalloenzyme inhibitor programs," said Robert Schotzinger, M.D., Ph.D., President and CEO of Viamet Pharmaceuticals. "We look forward to working with our financial partners as we continue to grow the company."
"Having worked with Viamet since its founding, we're very pleased to see the company reach this important milestone," said Garheng Kong, M.D., Ph.D., of Intersouth Partners. "The technology is promising and there are significant market opportunities being pursued."
"Viamet is an exciting investment opportunity," said Douglas Reed, M.D., of Hatteras Venture Partners. "We believe the science creates new market opportunities and we look forward to working with Viamet to develop these interesting and important compounds."
About Viamet Pharmaceuticals, Inc.
Viamet Pharmaceuticals, Inc. discovers and develops novel therapeutic agents that target metalloenzymes or interfere with the cell's ability to effectively utilize critical metal ions such as zinc and iron. The Company's primary focus is on the discovery and development of small molecule compounds that target metalloenzymes in the fields of infectious disease, inflammation and oncology. Viamet Pharmaceuticals was founded in 2005.
About Hatteras Venture Partners
Hatteras Venture Partners is a venture capital firm based in Research Triangle Park, North Carolina, with a focus on biopharmaceuticals, medical devices, diagnostics and related opportunities in human medicine. Founded in 2000, the firm consists of an experienced team with a broad and complementary skill set that is particularly relevant to building successful new biomedical companies. The Hatteras Venture Partners team brings operational experience, a successful track record, and a proven ability to enhance the value of the companies in which it invests. With three funds, the firm has more than $100 million under management. For more information, visit www.hatterasvp.com.
About Intersouth Partners
Located in Durham, North Carolina and Reston, Virginia, Intersouth Partners is one of the largest, most active and most experienced early stage venture funds in the country, having invested in more than 90 private companies over the last two decades. Founded in 1985, Intersouth Partners manages $780 million in seven venture capital limited partnerships. Intersouth seeks a broad range of seed and early-stage investment opportunities throughout the Southeast, focusing on the information technology and life sciences sectors. Visit www.intersouth.com for more information.
Source: Viamet Pharmaceuticals
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