By Elaine Rigoli
Tampa, Fla., Sept. 28 - Athenagen, Inc. raised $50 million through a series B financing.
The funds will be used primarily to advance development of the company's lead programs targeting Alzheimer's disease, age-related macular degeneration and cognition enhancement.
The financing was co-led by Sanderling Ventures and Clarus Ventures, with a significant investment also made by Index Ventures. Current investors Charter Life Sciences and Astellas Venture Management also participated in the round.
As a result of the financing, Dennis Henner, managing director of Clarus Ventures, will take a seat on Athenagen's board of directors.
Athenagen, located in South San Francisco, Calif., is engaged in the discovery and development of small-molecule drugs to treat neurovascular disease indications.
| Issuer: | Athenagen, Inc.
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| Issue: | Series B financing
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| Amount: | $50 million
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| Investors: | Sanderling Ventures, Clarus Ventures, Index Ventures, Charter Life Sciences, Astellas Venture Management
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| Announcement date: | Sept. 28
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