Burlingame, CA-based APT Pharmaceuticals has landed $22 million in series A-2 financing. New investors Versant Ventures and Great Point Partners joined existing firms Vivo Ventures and Charter Life Sciences in the round. The money will help APT advance its development pipeline which includes Pulminiq, a Phase III drug for prevention of lung transplant rejection, a novel cardioprotectant and several other projects. The company is focused on finding treatments for significant unmet medical needs.
"APT has all the makings of a premier drug development firm with its experienced and respected team and their keen sense for clinical unmet needs that address sound market segments," said Camille Samuels of Versant Ventures. "APT has a strong, capital-efficient business model encompassing a robust therapeutic drug development strategy," added Samuels.
- check out APT's release