Alnara Pharmaceuticals, Inc. Secures $20 Million in Series A Round

This post was commissioned on October 30, 2008, and it was categorized as Venture Capital, funding.

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Alnara Pharmaceuticals announced today that it has secured $20 million in Series A venture capital financing. The round was co-led by Frazier Healthcare Ventures and Third Rock Ventures, and included co-investor Bessemer Venture Partners. Proceeds from the financing will be used to accelerate the development of non-systemic protein therapeutics.

The newly formed company is being led by Alexey Margolin, Ph.D., chief executive officer, and an experienced Board of Directors. Dr. Margolin is the former chief scientific officer of Altus Pharmaceuticals Inc. Alnara’s Board of Directors is chaired by Richard Aldrich, co-founder of Vertex and Sirtris, and includes Christoph Westphal, M.D., Ph.D., chief executive officer of Sirtris, a GSK Company; James Topper, M.D., Ph.D., general partner, Frazier Healthcare Ventures; and, Robert Tepper, M.D., partner, Third Rock Ventures.

The press release went on to say… bla bla bla… new approach…. bla bla bla… we’re going to succeed faster than everyone else because we’re unique and special. I’m paraphrasing… but, in all seriousness, good luck with that.

Alnara Pharmaceuticals, Inc. Secures $20 Million in Series A Round
-(Via Business Wire Health News.)

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This post was constructed by

Eben Tessari

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Eben is a highly caffeinated business development associate at a small, cash sensitive pharmaceutical company somewhere in Massachusetts. He enjoys cliche-less banter, compartmentalization, non-equilibrium thermodynamics and NPV analysis. Agree or disagree with what he's posted? He encourages comments.

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