Ganymed, aTyr gain new venture funds

Germany's Ganymed Pharmaceuticals has raised $45.5 million in its third round of venture capital. Much of that money will back the company's experimental cancer therapies. The cash will fund Ganymed's lead candidate GC182 through Phase I/IIa clinical testing in gastric cancer. And Ganymed researchers will push the GT468 project into Phase I/IIa in a major cancer indication. The round was led by VI Partners, a Swiss-based venture capital firm.

- check out the release

ALSO: San Diego-based aTyr Pharma has raised $10.5 million in its second round of venture capital. The round was co-led by Alta Partners in San Francisco and Polaris Venture Partners in Boston. aTyr was founded by Paul Schimmel Ph.D., Professor at The Scripps Research Institute, John Clarke of Cardinal Partners, and colleagues. The company is targeting a family of cellular proteins that have demonstrated therapeutic potential. "aTyr presents a rich opportunity to identify and develop new protein biologics with the potential to address numerous pathogenic processes," said Dr. Schimmel. Release

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