Wednesday, January 4, 2012

Bionovo Gains $5M

Emeryville-based Bionovo, a publicly held developer of pharmaceuticals for treating both menopause and cancer, said yesterday that it has raised $5M in a private investment. The funding came from Socius CG II, Ltd, a Bermuda-based investment firm which is part of Socius Capital Group, LLC. The firm said the funding will go towards continuing development of its lead drug candidate, which is in Phase 3 clinical trials. That drug, Menerba, is aimed at treating menopausal hot flashes. Bionovo is publicly traded on the NASDAQ as BNVI. More information »