Aileron, Heritage Pharma each raise $10M in VC

Tue, 15 Apr 2008 06:59:55 -0400

Novartis Venture Funds and Apple Tree Partners have teamed up to lead a $10 million venture round for Cambridge, MA-based Aileron Therapeutics. Aileron says it will use much of the money to expand its research staff and open a 10,000-square-foot research facility. This brings its total venture funds to $20 million.

"With our broad understanding of the design and application of stapled peptides, Aileron is now focused on developing our product pipeline including--driving Aileron's lead programs to the clinic and expanding our ability to pursue new therapeutic indications and targets, such as transcription factors, that have now been shown to be within the reach of our biologic platform," said CEO Joseph A. Yanchik III.

- check out the report from Mass High Tech
- and check out the press release

ALSO: Heritage Pharmaceuticals has completed a $10 million first venture round with McClendon Venture Company. Release

PLUS: The start-up Anaphore in San Diego has pocketed $8 million in a round led by 5AM Ventures and Versant. Release