|
|
Article: Panacos Attracts $18.3M Round To Fund HIV Drug Development.
- 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)
|
Senior Staff Writer
Panacos Pharmaceuticals Inc. raised $18.3 million in its Series C round of financing.
Founded in November 2000 as a spinout of a diagnostics company, the Gaithersburg, Md.-based business has raised about $26.5 million in private equity to date. It was formed to further the drug and vaccine development programs of Boston Biomedica Inc., which remains focused on diagnostics.
Panacos plans to use a portion of the funds to develop its lead HIV drug candidate, PA-457, which is in clinical trials. The compound, the first in a new class of antiretrovirals called maturation inhibitors, has demonstrated activity against HIV, ...