Bedford, MA-based Resolvyx has garnered a $25 million in a second round of venture capital. QVT Financial LP led the funding round. The money will be used to accelerate Resolvyx's preclinical pipeline development and to advance multiple resolvin drug candidates into clinical trials in 2008. Resolvins are a recently discovered family of naturally-occurring, small molecule lipid mediators that resolve inflammation.
"We are excited about the growing recognition of the value of our unique resolvin platform. Attracting investors of this caliber underscores the significant progress we have made toward breakthrough drug products," said Paul Rubin, M.D., President and CEO of Resolvyx. "This funding allows us to continue to advance our resolvin therapeutic candidates, RvE1 and RX-10045, and to further evaluate additional resolvin and protectin compounds." Resolvyx's first round occurred in 2005, when the company gained $17 million.
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ALSO: Another Massachusetts-based company, Cambria Pharmaceuticals, has closed a $5.4 million Series A financing. Release