| |
| |
 |
| |
|
|
| |
April 16, 2002 |
|
| |
|
|
| |
Funds to Support Expansion of Scaffold Discovery Factory™ Platform
– Plexxikon Inc., a privately held, small-molecule drug discovery company, today announced the completion of a Series B Preferred Stock financing, raising $27 million. Plexxikon will use the proceeds to continue building its Scaffold Discovery Factory™ platform, from which multiple novel scaffolds and drug leads are being discovered. Specifically, the company will expand its synthetic organic chemistry, crystallography and informatics capabilities, including the completion of additional chemistry laboratory facilities and the hiring of additional chemists and other scientists.
The financing was led by Walden International, and included other new investors GIMV and A.M. Pappas. Current investors Alta Partners, CW Group, Advanced Technology Ventures and Kumho Group also participated. With the completion of this round, Plexxikon has raised over $35 million to date.
"Plexxikon's integrated discovery platform provides a unique opportunity to revolutionize drug discovery," said Dr. Charles Hsu, general partner, Walden International. "Walden is especially pleased to join Plexxikon's very experienced management team in delivering on the promise of Plexxikon's platform."
"This financing represents a significant endorsement of Plexxikon's unique drug discovery platform," said Dr. Peter Hirth, chief executive officer of Plexxikon. "In less than a year, we have already begun to see the power of this new approach, having discovered multiple novel small molecule scaffolds, some of which are already in lead optimization. With this latest financing, we look forward to expanding these programs to become a drug discovery leader, particularly in the use of structural analysis early in the lead finding process and in the discovery of novel scaffolds."
Plexxikon Profile
Plexxikon is a leader in the discovery and development of novel small molecule pharmaceuticals to treat human disease. Plexxikon's proprietary Scaffold-Based Drug Discovery™ platform is being applied to build therapeutic franchises in metabolic and cardiovascular disease, inflammation and oncology. This discovery process integrates a number of state-of-the-art technologies, including structural screening as one key component that provides a significant competitive advantage over other drug discovery approaches. To date, the company has discovered a portfolio of clinical and preclinical stage compounds in each of these franchises.
Currently, the company's most advanced program is a PPAR pan-agonist for the treatment of diabetes and related cardiovascular complications, with the lead candidate now in Phase 2 clinical testing in collaboration with Wyeth Pharmaceuticals. Other discovery programs include a dual kinase inhibitor for the treatment of rheumatoid arthritis and other inflammatory diseases and a renin inhibitor for hypertension in collaboration with Servier. Plexxikon is seeking pharmaceutical and biotechnology partners for select collaboration opportunities. For more information, please visit www.plexxikon.com.
2007 | 2006 | 2001 - 2005
Back to Top
|
|
| |
|
|
|
|
| |
| | | | | | |
| | | | | | | | |
| © 2007 Plexxikon Inc. | Site design by |
| |
|
|
