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Article: Momenta Secures $19M Series B Funds For Sugar-Based Research.
- Article from:
- BIOWORLD Today
- Article date:
- November 4, 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
Momenta Pharmaceuticals Inc. garnered $19 million after closing its second round of venture financing.
The Cambridge, Mass.-based company, which just opened its labs in the past year and vaulted into drug development work based on its understanding of complex sugars, labeled the Series B private equity investment an "up" round.
"At this stage, it does speak to the progress that the company has made," Momenta Chairman and CEO Alan Crane told BioWorld Today. "We're in a very important and fundamental area in biology, but to date it has been a very difficult area - complex sugars."
While knowledge of DNA and protein structure ...