A biotechnology company newly launched by two Boston University researchers has reeled in big bucks in its first round of institutional financing.
HemaQuest Pharmaceuticals reports it has raised $20 million in Series A financing to advance its small-molecule treatments for blood disorders. The financing came from De Novo Ventures, a California investment group; Forward Ventures, of San Diego; and Lilly Ventures, the venture capital arm of Indianapolis-based drug firm Eli Lilly and Co.
HemaQuest, based in Newton, plans to request permission to begin trials of its lead drug candidate, a treatment for sickle-cell anemia and beta thalassemia, by the end of 2007, firm officials said. The company also plans to develop treatments for other blood disorders such as anemia and neutropenia.
The founders of the newly hatched firm include Susan Perrine and Douglas Faller, both of whom are medical researchers at Boston University, as well as George Stamatayannoupolous, a former president of the American Society of Hematology, according to the company.
Ronald Berenson is the company's CEO, and Lilly Ventures' Bryan Dunnivant is chairman of the board.
Source: http://www.bizjournals.com/masshightech/stories/2007/10/29/daily43.html
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