With the help of new investor OVP Venture Partners South San Francisco's Limerick BioPharma has rounded up $15 million in Seriec C funding. Previous investors ARCH Venture Partners, Sevin Rosen Funds and Altitude Funds also participated in the round.
Limerick is using its technology platform to develop compounds that, when used adjunctively with both approved and investigational drugs, improve drug side effect profiles and clinical outcomes.
With the funding comes changes to Limerick's board of directors. OVP managing director Chad Waite is joining Limerick's board, while existing member (and former Pfizer-ite) Corey Goodman has been elected as the Chairman of the Board. Recently, Goodman was also named the chair of the newly-formed stem cell technology company iPierian.
"Limerick's novel platform has led to the development of an attractive pipeline of products for metabolic disease, immunosuppression, and mitigation of opiate side effects," said OVP's Waite. "The company is now well-positioned to capitalize on this platform and to exploit the commercial potential of its growing library of biochemical activators of cellular transport. Early human trials are quite promising."
- check out the announcement from Limerick