Wilder..... I mentioned Compugen, but here's another to watch......
Structural GenomiX Completes $45 Million Private Placement
SAN DIEGO, Sept. 20 /PRNewswire/ -- Structural GenomiX (SGX), a
high-throughput protein structure determination company, has completed a
$45 million round of private equity financing. BA Venture Partners led the
round, with additional investments from Amerindo, MDS Health Ventures, Orbimed
Advisors, and Vector Fund Management. All of SGX's existing investors
participated in the round, including Atlas Ventures, Apple Tree Partners,
Prospect Venture Partners, The Sprout Group, Index Ventures, and Vulcan
Northwest. SG Cowen served as placement agent.
Structural GenomiX integrates advances in genomics, bioinformatics and
X-ray crystallography into a high-throughput structure determination platform
that provides protein structures to pharmaceutical companies for use in drug
discovery and design.
"This round of financing received a tremendous amount of interest from
investors in North America and Europe," commented SGX President and CEO Tim
Harris, Ph.D. "The investment community clearly has caught on to the
importance of structural genomics and to SGX's ability to capitalize on the
opportunity. We don't plan to let them down."
Lou Bock, Managing Director at BA Venture Partners, said, "This
organization demonstrates clear leadership in what is emerging as a cutting
edge area of post-genomics research. We are very impressed with the
complementary business and scientific skills of the SGX management team and
their ability to implement a broad and integrated technology platform. We are
happy to be able to participate in their growth."
"This round of financing puts the company in excellent position to build a
dominant technology platform for the industrialization of protein
crystallization and the elucidation of protein structure for improved design
of drugs and vaccines," said George Poste, D.V.M., Ph.D., SGX Chairman and
former CSO/CTO of SmithKlineBeecham. "With these funds, SGX will continue to
develop an integrated platform that will support the structure-based drug
design of its customers."
SGX uses high-throughput X-ray crystallography to transform DNA sequence
into three-dimensional protein structures whose shapes and charges reveal
important functional information that researchers can use to develop drugs and
compounds. The structures that SGX generates will impact target validation,
rational drug design, pesticide discovery, and industrial catalysis through a
value-added database and customized structural solutions. SGX currently
employs 60 people at its facility in San Diego, CA. For more information,
please see SGX's website at stromix.com.
Contact: Sarah Dry, Communications Coordinator of Structural GenomiX,
858-558-4850, ext. 131; or Anne Sunderland of Noonan/Russo Communications,
415-677-4455, ext. 214, for Structural GenomiX.
SOURCE Structural GenomiX Inc.
Web Site: stromix.com |
