With the help of new investor SR One, the corporate venture fund of GlaxoSmithKline, Alios BioPharma has raised an additional $8 million to advance its preclinical programs toward proof-of-concept. This is in addition to $24 million the company already raised from Novo Ventures, Novartis Ventures and other investors. The company has raised a total of $32 million to date.
Alios' lead drug candidate is is a hyperglycosylated Interferon molecule, which could be used to treat hepatitis C. "SR One is pleased to join the distinguished Alios team and investor syndicate in their effort to realize the potential of Alios to develop multiple novel therapies for a variety of serious and life threatening viral infections," said Kent Gossett, Partner at SR One. "The Alios investment demonstrates SR One's commitment to fund emerging life science companies with innovative science that has the potential to significantly advance medical care." Gossett will join Alios board of directors.
- here's Alios' release [1]
Related Articles:
Emerging Drug Developer: Alios BioPharma [2]
Alios gets $24M for hepatitis C work [3]
Links:
[1] http://www.fiercebiotech.com/press-releases/alios-biopharma-closes-32-million-series-financing
[2] http://www.fiercebiotech.com/special-reports/emerging-drug-developer-alios-biopharma
[3] http://www.fiercebiotech.com/story/alios-gets-24m-hepatitis-c-work/2009-02-13