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Article: Ansata Hits Milestone, Pulls In Second Half Of $5M Series A.
- Article from:
- BIOWORLD Today
- Article date:
- November 4, 2009
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Associate Managing Editor
Ansata Therapeutics Inc., having effectively raised $5 million in its Series A round last year but receiving only half of it, pulled in the rest by hitting its first milestone.
The La Jolla, Calif.-based company - founded at the time of the Series A in May - was running on the $2.5 million it got then, but needed to validate its technology before it could bank the second tranche.
"We needed to meet a milestone of an in vivo proof of concept of a [protein transduction domain] delivery cancer therapeutic," said Dee Conger, Ansata's CEO. "We'll use the funds basically to continue the research we've been doing since last ...