Tuesday, September 30, 2008

APT Pharmaceuticals Raises $32M

Burlingame-based APT Pharmaceuticals, which is developing treatments for serious lung diseases, said Tuesday that it has raised $32.3M in a Series B funding. The round was led by Three Arch Partners, and also included new investors InterWest Partners and Pinnacle Ventures. APT said the new funding will go to complete its Phase II program for evaluating the safety and efficacy of cyclosporine inhalation solution following lung transplantation. The firm also said the funding will go to fund further pipeline development. Prior investors Charter Life Sciences, Great Point Partners, Versant Ventures and Vivo Ventures also participated in the round. More information »