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Article: BioAssets Investigating TNF Inhibitors In Orthopedic Area.
- 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
Founded a year ago to develop drugs for orthopedic diseases, BioAssets Development Corp. recently closed an initial seed round and is positioned to start advancing its first program, a TNF inhibitor against pain caused by disc injury or herniation.
The Natick, Mass.-based firm closed $800,000 in seed funding, with money coming from an undisclosed institutional investor and orthopedic spine surgeons, and it's conducting an ongoing convertible note offering through the end of this year "targeting an additional $1.5 million," said BioAssets President Jim Gorman, who founded the company with Robert Kamen, chairman and chief scientific officer, ...