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Article: Pharmasset Raises $40M In Series D For HIV Candidates.
- 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
Pharmasset Ltd. completed its largest financing to date, raising $40 million in a Series D round that will help advance its two clinical HIV products.
The Atlanta-based company conducted the round with several new and existing investors. It plans to use the funds to move forward Reverset and Racivir, as well as its preclinical candidates. The company also plans to increase its employee base with the new funding. It currently has 29 employees.
"Certainly the financing is significant as far as helping to advance our clinical programs, bolster our discovery research efforts and help to move the company forward," said Alan Roemer, the ...