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$37 million financing for company based on macular degeneration research
Date:10/9/2007

arily pleased to have these discoveries so rapidly and substantially supported as they are translated into valuable diagnostics, said John Puziss, Director of Technology Licensing for Yales Office of Cooperative Research. We also want to thank the Sackler Fund for the Arts and Sciences and Raymond and Beverly Sackler, long standing supporters of medical research and the Yale School of Medicine, for the grant that funded this landmark research and the Verto Institute founded and directed by Jonathan and Richard Sackler that continues to fund Dr. Hohs projects in ophthalmology and other diseases.

Colin J. Foster, Optherions President and CEO, said, We are embarking on a program that exploits a new and exciting area of research with breakthrough potential in areas of high unmet medical need. Foster is the former CEO of Bayer Pharmaceuticals in the U.S. and Region Head for Bayer Pharmaceuticals in North America.

Among the sources of capital for the financing are: Quaker BioVentures, Philadelphia; Domain Associates, Princeton, NJ and San Diego; Johnson & Johnson Development Corporation, New Brunswick, NJ; Purdue Pharmaceutical Products L.P., Stamford, CT; Pappas Ventures, Research Triangle Park, NC; Biogen Idec New Ventures, Cambridge, MA and GE Healthcare Financial Services, Chicago, IL.

The successful completion of this Series A financing will enable the company to advance the work of Dr. Hageman, Dr. Hoh and others, and hopefully transform the diagnosis and treatment of dry age-related macular degeneration, said David Scheer, Chairman of the Optherion Board of Directors.


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Contact: Janet Rettig Emanuel
janet.emanuel@yale.edu
203-432-2157
Yale University
Source:Eurekalert

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