Healthcare Industry News: rheumatoid arthritis
News Release - February 1, 2008
Taligen Therapeutics Secures Series B FinancingAURORA, Colo., Feb. 1 (HSMN NewsFeed) -- Taligen Therapeutics, Inc. today announced it anticipates receiving up to $65 million in a tranched Series B financing. The financing was led by Alta Partners and Clarus Ventures with participation from existing investors, including Sanderling Ventures, Tango and High Country Venture.
"This Series B round represents not only an infusion of capital but the addition of two world class investor groups, Alta Partners and Clarus Ventures, represented on our Board respectively by Edward Hurwitz and Nicholas Galakatos, PhD," said Timothy Mills, PhD, Chairman of the Board of Taligen. "The progress made since our original investment in 2005 now allows us to develop multiple products to control the alternative pathway of complement activation. With this additional funding, we expect to move into clinical development with all of our lead candidates."
About Taligen: Founded in 2004, Taligen Therapeutics, Inc. is a development-stage biotechnology company with novel technology and expertise focused on modulation and control of the complement system. The complement system is believed to be a critical component in the initiation of inflammation. Complement system activation is characteristic of many human diseases, including asthma, macular degeneration, rheumatoid arthritis and immune renal disease.
Taligen's lead products are monoclonal antibodies and recombinant fusion proteins which target key factors in the alternative complement pathway. These products are in preclinical stages of development to treat systemic as well as local inflammatory conditions.
The Company was founded by Drs. Woodruff Emlen and V. Michael Holers based on technology and intellectual property predominantly from the University of Colorado at Denver and Health Sciences Center (UCDHSC) and partnering institutions. Dr. Holers is currently Professor of Medicine at UCDHSC and Dr. Emlen is a former Professor of Medicine and Immunology at UCDHSC.
This release is for informational purposes only and it does not constitute an offer to sell or the solicitation of an offer to buy any of the securities nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification of the securities under the securities laws of any such state.
Source: Taligen Therapeutics
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