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Article: Athenagen Series B Garners $50M For Alzheimer's, AMD.
- 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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West Coast Editor
Athenagen Inc. plans to use $50 million raised in its Series B financing to push the Phase I/II-ready Alzheimer's disease drugs gained in the merger with Zapaq Inc., as well as the firm's own compounds for age-related macular degeneration and enhancement of cognition.
The financing will take South San Francisco-based Athenagen into the middle of 2008, said Scott Harkonen, president and CEO.
By then, the firm should have Phase II efficacy data for its AMD eye drop therapy, known as ATG003, and the same for GTS-21 against multiple cognitive disorders, as well as Phase I/II proof-of-concept results from the beta-secretase ...