aTyr Pharma Completes $10.5 Million Series B Round
SAN DIEGO -- aTyr Pharma, a privately held biopharmaceutical company focused on identifying and developing a novel class of naturally occurring protein biologics for human therapeutics, today announced the closing of its $10.5 million Series B financing. Co-led by Alta Partners (San Francisco) and Polaris Venture Partners (Boston), the financing also included Imagene (Seoul) and Cardinal Partners (Princeton), aTyr's founding institutional investor. David Mack, Ph.D., Director at Alta Partners and Amir Nashat, Ph.D., Partner at Polaris Venture Partners joined aTyr's board of directors in connection with the financing. The capital is supporting internal research and development efforts, as well as expanding the company's management and operations.
Founded by Paul Schimmel Ph.D., Professor at The Scripps Research Institute, John Clarke of Cardinal Partners, and colleagues, aTyr 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. "I am pleased to have such a strong and familiar investor syndicate in Alta Partners, Cardinal Health Partners and Polaris - three firms that have built successful companies with me in the past, and to be able to work with Joon Kim, CEO of Imagene and Sunghoon Kim, Professor at Seoul National University." A recognized scientist and entrepreneur, Dr. Schimmel is co-founder or founding director of six publicly traded biotechnology companies, including Alnylam, Alkermes, Avicena Group, Cubist Pharmaceuticals, Momenta Pharmaceuticals, and Repligen Corporations.
Since the closing of the Series B financing the Company has established operations in San Diego, CA and has hired Christina A. Waters, Ph.D., as President and COO. "We have an exciting opportunity to make advances in a new area of biologics and translate our findings to best or first in class medicines that will improve patient lives," said Dr. Waters. "The inherent characteristics of these proteins enable us to build off of normal biologic processes, strengthening our ability to create effective, novel and natural therapeutics." Prior to joining aTyr, Dr. Waters was the Director of Scientific Development at the Genomics Institute of the Novartis Research Foundation, where she designed and managed research and preclinical drug discovery development.
aTyr's biologics have therapeutic potential across a wide range of disease areas including vascular, inflammation, oncology, metabolic, neurologic and dermatologic disorders. "aTyr has all the components of a winning start-up," said Dr. David Mack of Alta Partners, "a strong team with scientific credibility and operational expertise, together with a novel family of naturally occurring biologics possessing therapeutic utility." Dr. Amir Nashat of Polaris Venture Partners adds, "We are excited about aTyr's potential to mine this class of biologics for the development of new and better treatments for large patient populations."
About aTyr Pharma, Inc.
aTyr Pharma is a privately held biopharmaceutical company focused on identifying and developing a novel class of naturally occurring protein biologics for therapeutic application. aTyr's research facility is headquartered in the heart of the Torrey Pines Science Research Park in San Diego, California. www.atyrpharma.com
About Alta Partners
Alta Partners is a San Francisco-based venture capital firm focused on life sciences investing. Founded in 1996, the firm currently manages $2 billion in committed capital through eight venture fund programs. Alta invests in life sciences companies across the development continuum, from company formation to later-stage opportunities, and has funded more than 110 companies in the sector to date. www.altapartners.com
About Cardinal Partners
Cardinal Partners is a leading early stage healthcare focused venture capital firm that seeks investment opportunities across the medical device, healthcare IT and life sciences sectors. Together the Cardinal Partners team has invested in over 100 companies. Cardinal is based in Princeton, New Jersey. www.cardinalpartners.com
About Polaris Venture Partners
A national venture capital firm with over $3 billion under management, Polaris identifies and invests in seed, early stage and growth equity businesses in the technology, life science, digital media, enertech, and consumer sectors. Through a philosophy of lead investing and active, long- term partnering with early stage and growing revenue stage businesses, Polaris has helped a number of companies achieve outstanding success. www.polarisventures.com
Contact: aTyr Pharmaceuticals Christina Waters, 858-731-8389 President and COO [email protected] or Media: Alta Partners Jennifer James, 415-362-4022 [email protected]