Serenex banks $31M in latest venture round

Durham, MC-based Serenex has rounded up $31 million in its fourth round of venture capital. The money will be used to fuel the clinical development of two cancer products--SNX-1012 and SNX-5422--as well as its work on Heat Shock Protein 90 (Hsp90) inhibitors. Cornell Capital Partners, Pearl Street Ventures, MC Life Science Ventures and Pac-Link Bio Venture Capital signed on as new investors. Existing investors include Ritchie Capital, Intersouth Partners, Lilly Ventures, Mediphase Venture Partners, Takeda Research Investment and Seaflower Ventures.

"Serenex's many strengths include an experienced management team, two valuable assets in SNX-1012 and SNX-5422, a proven discovery platform and a promising pre-clinical pipeline," said Michael Nowak of Cornell Capital Partners.

- see the release
- read the report on Serenex from Tech Journal South

ALSO: Koronis Pharmaceuticals has raised $20 million in its fourth round. The money will be used to advance its antiviral therapeutics based on Viral Decay Acceleration. The financing for the Seattle-based biotech was led by Pacific Horizon Ventures along with Asset Management Company. Release

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