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Bone disease biotech company closes $1.6M financing.
2004 FEB 5 - (NewsRx.com & NewsRx.net) -- Auxeris Therapeutics, Inc., a biopharmaceutical company focused on the development and commercialization of medicines to treat a broad range of bone diseases, announced the completion of a $1.6M extension to its Series A financing round, bringing the total to $4.1M. Investors in the round were Domain Associates and RiverVest Venture Partners.
Funds will be used to advance the company's lead clinical candidates for bone metastasis and osteoporosis prevention, and to develop additional therapeutic clinical candidates for bone disease.
"We are very pleased to have closed this round of financing and look forward to accelerating our growth by continuing to develop innovative bone products," said Auxeris president and CEO, Laurent Fischer, MD "We believe Auxeris has the potential to significantly improve the treatment of osteoporosis by preventing or reversing bone loss, not merely arresting its progression. In addition to our osteoporosis candidate, we are developing a drug candidate to prevent bone metastasis by protecting the bone, rather then specifically targeting the tumor. This novel approach has the benefit of applying to a wide range of cancers."
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Source: HighBeam Research, Bone disease biotech company closes $1.6M financing.