Athenagen pockets $50M in second round

South San Francisco-based Athenagen has garnered $50 million in its second round and plans to use much of the money to push the development of its candidates for neurovascular diseases. Sanderling Ventures and Clarus Ventures led the round.

"Athenagen's internally generated AMD and beta-secretase inhibitor programs are potentially best-in-class molecules that have differentiated themselves from competitive programs," said Clarus' Dennis Henner. "Furthermore, the recently in-licensed GTS-21 for cognition enhancement represents a valuable near-term product opportunity in a field that clearly needs new agents."

- see the release on the new round