BURLINGAME,
CA – OCTOBER
4,
2007
APT Pharmaceuticals
Closes
New $22 Million Funding Round
APT Pharmaceuticals, a specialty drug development
company focused on effective treatments for significant unmet
medical needs, announced today that it has closed a $22 million
Series A-2 round of financing. New investors Versant Ventures
and Great Point Partners joined existing firms Vivo Ventures
and Charter Life Sciences in the round. Coinciding with the
funding, Camille Samuels, Managing Director, Versant Ventures
and David Kroin, Managing Director, Great Point Partners
have joined the APT board.
The company, which has received
a total of $30 million in funding to date, will use the new
funding to advance its development pipeline which includes
Pulminiq, a Phase III drug for prevention of lung transplant
rejection, a novel cardioprotectant and several other projects.
APT also announced
the appointment of Ralph Niven PhD, as Chief Technology Officer.
Dr. Niven has two decades of experience in the operations,
management and technology development of biopharmaceutical
companies and has worked extensively in all aspects of preclinical
and early clinical development. He was formerly Senior Vice
President of Preclinical Development for Discovery Labs.
"APT has all the makings of a premier
drug development firm with its experienced and respected
team and their keen sense for clinical unmet needs that address
sound market segments," said Camille Samuels of Versant
Ventures. “Also,
APT has a strong, capital-efficient business model encompassing
a robust therapeutic drug development strategy,” added
Samuels.
“We are extremely pleased with the outcome
of this funding round,” said Dr. Stephen Dilly, President
and CEO of APT. “We have added two more high-caliber
investors to our investor base and secured the resources
to make major progress with our development pipeline. I am
very excited to welcome Camille and David onto our Board
and to have Ralph join our senior executive team. We now
have the people, the products and the resources we need to
build significant value over the next few years.”
About APT Pharmaceuticals,
Inc.
APT Pharmaceuticals, Inc. is a drug development
company based in Burlingame, California. APT is backed by
several leading venture capital firms, including Vivo Ventures,
Versant Ventures and Charter Life Sciences and by Great Point
Partners, a leading healthcare investment firm. For more
information, please visit www.aptbio.com.
Media Contacts
Lisa Kelaita
New Venture Communications
lkelaita@newventurecom.com
(650) 343-2735
Ted Rossman
New Venture Communications
trossman@newventurecom.com
(914) 432-7083
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