APT Pharmaceuticals raises $32 million
September 30th, 2008
In its second round of venture funding, APT Pharmaceuticals Inc. raised $32 million.
The Burlingame company seeks inhaled drugs for lung diseases.
Three Arch Partners led this round and put Bill Harrington, M.D., on APT’s board of directors. InterWest Partners and Pinnacle Ventures — both new investors — also gave money and put Nina Kjellson and David Kim, respectively, on the board as observers.
Charter Life Sciences, Great Point Partners, Versant Ventures and Vivo Ventures also gave money in this round first cash advance.
APT plans to spend the money finishing Phase III testing of inhaled cyclosporine for lung transplant patients.
Stephen Dilly is president and CEO of APT.
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