Wednesday, November 19, 2008

Arete Therapeutics Lands $16.7M

Hayward-based Arete Therapeutics, which is a biotechnology firm focused on soluble epoxide hydrolase (s-EH) inhibitors, has added $16.7M in a Series A tranche financing. According to Arete, the tranche was led by Frazier Healthcare Ventures and Alta Partners, and also includes prior investors Burrill & Company, Three Arch Partners, and Altitude Life Science Ventures. The round brings the company's Series A to over $51M. The firm said it will use the funding to move towards a Phase II clinical trial in Q1 o 2009. The firm's compounds are being targeted at treating metabolic, inflammatory and cardiovascular disease. More information »