Published on 9/12/2006 in the Prospect News Biotech Daily.
Alvine closes $21 million round of financing
By Lisa Kerner
Charlotte, N.C., Sept. 12 - Alvine Pharmaceuticals, Inc. closed a $21 million round of series A financing.
Proceeds will be used to advance the company's lead product candidate, ALV001 for the immune disease celiac sprue, into human clinical and safety trials.
Sofinnova Ventures led the round, which included Prospect Venture Partners, InterWest Partners Cargill Ventures and Flagship Ventures.
Alvine is a Palo Alto, Calif.-based biopharmaceutical company.
| Issuer: | Alvine Pharmaceuticals, Inc.
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| Issue: | Series A financing
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| Amount: | $21 million
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| Investors: | Sofinnova Ventures (lead), Prospect Venture Partners, InterWest Partners, Cargill Ventures, Flagship Ventures
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| Announcement date: | Sept. 12
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