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Article: Financings Roundup Cerulean Steps Up 'Tempo,' Gets $10M for Nanoparticles.
- Article from:
- BIOWORLD Today
- Article date:
- July 28, 2009
- Author:
CopyrightCOPYRIGHT 2009 A Thomson Healthcare Company. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Jennifer Boggs, Assistant Managing Editor
A month after an in-licensing deal allowed it to jump ahead into clinical development with a nanoparticle drug candidate, Cerulean Pharma Inc. pulled in $10 million in a Series B-1 financing to push that program forward and advance its platform technologies.
That adds about one year of cash to the Cambridge, Mass.-based company, which has raised about $32 million to date since it was founded in late 2006 as Tempo Pharmaceuticals with the aim of developing nanoparticles able to effect the temporal release of drugs exclusively to diseased tissue.
The name change to Cerulean (derived from the Latin ...
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