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Home > PE News > By Region > North America > United States

Biopharma company Receptos raises $25m for drug discovery Biopharma company Receptos raises $25m for drug discovery

24 Nov 2009. Source: AltAssets
Biopharmaceutical company Receptos Inc has closed a two-tranche $25m series A round of funding.  Participants in the round include ARCH Venture Partners, Flagship Ventures, Lilly Ventures and Venrock.

The California-based Receptos deals with G protein-coupled receptors (GPCRs) which are involved in many diseases and are also the target of around half of all modern medicinal drugs.  The company will use the financing to further advance their GPCR drug discoveries and developments that deliver therapeutics to patients and their healthcare providers.

William Rastetter, chairman and CEO of Receptos, said, “The combined elements present at Receptos will catalyse the future development of novel therapeutics directed at high-value GPCR targets, some of which have not been amenable to successful drug development.”

Both investors in this financing round, ARCH Venture Partners and Venrock teamed up for another life science investment earlier in the month, leading a $30m venture round for stem cell company Fate Therapeutics.

Copyright © 2009 AltAssets

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