Denver-based ARCA Discovery has rounded up $15 million in its first round of venture capital. The upstart already has plans to use the funds to back a New Drug Application for bucindolol, a genetically targeted cardiovascular drug. Bucindolol has been evaluated in Phase III clinical trials involving more than 3,000 patients with advanced heart failure and myocardial ischemia. The financing was led by Atlas Venture. Boulder Ventures, which provided the original seed financing for ARCA, and Pequot Capital Management also participated in the financing.
- here's the press release
ALSO: Michael Bristow, the founder of Myogen, quietly stepped away from his jobs as chief science and medical director to focus on ARCA. Report