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Article: Topigen Raises $24.7M In First Close Of Series C.
- Article from:
- BIOWORLD Today
- Article date:
- November 3, 2009
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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Staff Writer
Topigen Pharmaceuticals Inc. raised C$26 million (US$24.7 million) in the first close of a Series C financing to drive Phase II trials with TPI 1020 in chronic obstructive pulmonary disease (COPD) and TPI ASM8 in asthma.
Paul Wotton, president and CEO of Montreal-based Topigen, said the company wanted to raise money quickly to support its Phase II trials, so the first close of the Series C came predominantly from existing investors. He added that Topigen plans to keep the round open "over the balance of the year" to give new investors a chance to participate.
Topigen already has investor interest and expects to close an additional ...
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