- Excaliard closes $15.5 million Series A financing from Alta Partners,
ProQuest Investments and RiverVest Venture Partners
CARLSBAD, Calif. and ENCINITAS, Calif., Nov. 27 /PRNewswire-FirstCall/ -- Isis Pharmaceuticals, Inc. (Nasdaq: ISIS) and Excaliard Pharmaceuticals, Inc. announced today a new collaboration to discover and develop antisense drugs for the local treatment of fibrotic diseases, including scarring. Isis has granted Excaliard an exclusive worldwide license for the development and commercialization of certain antisense drugs. Excaliard made an upfront payment to Isis in the form of equity and paid Isis $1 million cash for the licensing of a particular gene target. In addition, Isis is eligible to receive development milestones and royalties on antisense drugs developed by Excaliard.
"Isis has made superb progress in the development of second-generation antisense drugs over the last few years, as evidenced by its clinical pipeline and current collaborations with companies such as Bristol-Myers Squibb, Eli Lilly and Ortho-McNeil among others. Having access to Isis' antisense technology and expertise provides a great opportunity for Excaliard," said J. Gordon Foulkes, Ph.D., acting CEO for Excaliard and Managing Director of RiverVest Venture Partners, who co-founded Excaliard and provided the initial seed funding for the company.
Excaliard closed a $15.5 million Series A financing, co-led by Alta
Partners, ProQuest Investments, and RiverVest Venture Partners, with Farah
Champsi, Alain Schreiber and Gordon Foulkes respectively joining the Board
of Directors. "It is a pleasure to once again be working with Isis, the
leader in the discovery and development of RNA-based therapeu
|SOURCE Isis Pharmaceuticals, Inc.|
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