Thursday, February 5, 2015

Armetheon Gains $24M For Cardiac Drugs

Menlo Park-based Armetheon, whic is developing biopharmaceuticals aimed at replacing the anticoagulant warfarin, said Thursday that it has raised $24.3M in a Series B funding round. The funding came from Hercules Bioventure Partners and Capital TEN II, along with China Development Industrial Bank (CDIB) Healthcare, CDIB & Partners, iD SoftCapital Group and AmKey Ventures, and angels. The company said the funds go to advance tecarfarin, which is says avoids the adverse drug reactions associated with the anticoagulant warfarin, which is widely used to treat cardiovascular disease. More information »