Aileron Therapeutics has ginned up $7 million in fresh venture capital. The money will give the drug developer enough cash to "advance its lead oncology program towards IND and to further the pre-clinical development of additional programs that utilize the company's proprietary stapled peptide technology platform." Apple Tree Partners and the Novartis Venture Fund were involved in the financing.
"This capital will enable us to continue successfully applying the stapled peptide technology to develop leads for a diversity of intracellular protein-protein interaction targets that have proven to be 'undruggable' by conventional strategies," said CEO Joseph A. Yanchik III.
- here's the release [1] on the financing
Links:
[1] http://www.fiercebiotech.com/node/7149