Navigation Links
Trevena, Inc. Announces $24 Million Series A Financing
Date:3/5/2008

Drug Discovery Company to Focus on G-Protein Coupled Receptors

BERWYN, Penn., March 5 /PRNewswire/ -- Trevena, Inc., a drug discovery company focused on developing pharmaceutical products targeting G-protein coupled receptors (GPCRs), today announced the closing of a $24 million Series A financing. Alta Partners and Healthcare Ventures led the round as part of an investor syndicate that included New Enterprise Associates and Polaris Venture Partners. The company will use the funds to progress its drug discovery portfolio.

"We are very pleased to have attracted an outstanding group of investors, who share our vision and strategy on building a premier drug discovery organization," said Maxine Gowen, Ph.D., President and Chief Executive Officer. "Pharmaceutical products that target GPCRs represent over 40% of marketed drugs today and these targets provide an attractive starting point for new pharmaceutical agents. Trevena's mission will be to utilize a state of the art approach to discover and develop novel GPCR-targeted medicines for patients."

Dr. Gowen was most recently the Senior Vice President of GlaxoSmithKline's Center of Excellence for External Drug Discovery, where she was responsible for delivering compounds with therapeutic proof of concept through partnerships with biotechnology companies. "We are thrilled to have Maxine's leadership and believe Trevena is uniquely positioned to develop new GPCR-based drugs, across multiple therapeutic areas, which could be safe and more effective than current pharmaceuticals," commented Farah Champsi, Managing Partner at Alta Partners.

Trevena has recruited Michael Lark, Ph.D. as Head of Research and Mark Strobeck, Ph.D. as Chief Business Officer. Michael was previously Vice President of Biology Discovery, at Centocor. Mark was formerly Vice President of Business Development for Drug Discovery at GlaxoSmithKline.

Trevena's drug discovery platform, licensed from Duke University Medical Center, is based on extensive research from the laboratories of Robert J. Lefkowitz, M.D., Investigator, Howard Hughes Medical Institute, James B. Duke Professor of Medicine and Biochemistry at Duke University Medical Center and Howard A. Rockman, M.D., Chief of Cardiovascular Medicine at Duke University Medical Center. Drs. Lefkowitz and Rockman are founders of Trevena and will act as consultants to the company.

In connection with the Series A financing, Farah Champsi, Managing Director at Alta Partners, Christopher Mirabelli, Ph.D., Partner at Healthcare Ventures, Robert Garland, M.D., Partner at New Enterprise Associates, Terry McGuire, Managing Partner at Polaris Venture Partners, Ralph Snyderman, M.D., Chancellor Emeritus, Duke University and James B. Duke Professor of Medicine at the Duke University School of Medicine and Maxine Gowen, Ph.D. joined Trevena's Board of Directors.

About Alta Partners

Alta Partners is a San Francisco-based venture capital firm focused on life sciences investing. Founded in 1996, the firm currently manages $2 billion in committed capital through seven venture fund programs. Alta invests in life sciences companies across the development continuum, from company formation to later-stage opportunities, and has funded more than 120 companies in the sector to date. http://www.altapartners.com

About Healthcare Ventures

For information on Healthcare Ventures, visit http://www.hcven.com

About New Enterprise Associates

New Enterprise Associates (NEA) is a leading venture capital firm focused on helping entrepreneurs create and build major new enterprises that use technology to improve the way we live, work and play. With approximately $8.5 billion in committed capital, NEA's experienced management team has invested in over 550 companies, of which more than 160 have gone public and more than 230 have been acquired. For additional information, visit http://www.nea.com

About Polaris Venture Partners

Polaris Venture Partners is a partnership of experienced venture capital investors and technology executives. Our mission is to identify and invest in seed, first round, and early stage information technology and life science businesses with exceptional promise and help them grow into sustainable, market-leading companies. In addition, Polaris is committed to providing growth equity and shareholder liquidity to established companies in the technology, healthcare, manufacturing, media, communications, and business services sectors. The firm has over $3 billion under management and current investments in more than 100 companies. For information on Polaris Venture Partners, visit http://www.polarisventures.com


'/>"/>
SOURCE Trevena, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. HHS Announces $75 Million in Supplemental Funding to States for Pandemic Flu Preparedness
2. CRC Health Group Announces Acquisition of Bayside Marin Recovery Center, San Rafael
3. UHW Announces: Antelope Valley Hospital Caregivers and Board Vote to Ratify First Union Contract With SEIU UHW-West
4. HEI, Inc. Announces Sale of RFID Division Assets
5. Caraco Pharmaceutical Laboratories, Ltd. Announces FDA Approval to Market Generic Version of Zyloprim(R)
6. Mettler-Toledo International Inc. Announces Webcast of Presentation at Thomas Weisel Partners 2007 Healthcare Conference
7. Z Trim Announces Revocation of Gregory Halpern Severence Agreement
8. Brooke Franchise Corporation Announces Selected July Results
9. Manor Care, Inc. Announces Record Date for Special Stockholder Meeting
10. Caraco Pharmaceutical Laboratories, Ltd. Announces FDA Approval to Market Generic Version of Adipex-P(R)
11. Planet Technologies Announces Agreement to Acquire Antigen Laboratories
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:1/21/2017)... ... January 21, 2017 , ... Caronlab Australia, an Australian company known ... Trade Show in Hilton Head, SC, where it benefited from outstanding meetings with major ... its beauty and wellness products. At this trade show, the company had the chance ...
(Date:1/21/2017)... ... , ... "ProDOF is the perfect set of tools for video editors that want to create ... Christina Austin - CEO of Pixel Film Studios. , Video editors using ProDOF can ... a DSLR racking focus from one area into the next. ProDOF comes with 0.5 ...
(Date:1/21/2017)... ... , ... Phytocéane invites you to take an exotic journey deep ... with ZANZIBAR SHOWER GEL. Inspired by the beauty of Zanzibar, a Tanzanian archipelago off ... vegetal coral to create this gentle, crystal-clear shower gel to cleanse the body and ...
(Date:1/21/2017)... (PRWEB) , ... January 21, 2017 , ... ... Redwood Family Dermatology has recently joined their multi-specialty medical group. The ... range of cosmetic services. , “We’re excited to add this excellent dermatology practice ...
(Date:1/21/2017)... ... January 21, 2017 , ... In the United States, 20 million ... freedom of recovery, they often feel shame for having struggled with an eating disorder ... In the workshop, “Rising Strong in Life After an Eating Disorder” -- to be ...
Breaking Medicine News(10 mins):
(Date:1/23/2017)... -- Just two weeks remain until legal experts and senior industry leaders ... Central London to discuss the flow of pharmaceutical products post ... Parallel Trade 2017 . In the run up to the ... available to read in the event download centre . ... Some of those confirmed include: ...
(Date:1/22/2017)... and ABU DHABI , Saudi Arabia , ... from the US and ... Hospital of the Future , at the World Economic Forum ... the future will be driven by big data and powered by artificial intelligence ... panel of experts that discussed the ,Hospital of the Future, at the concluding ...
(Date:1/21/2017)... Research and Markets has announced the addition of ... Test (Tumor, Clinical Chemistry, Microbiology, Esoteric), By Type of Lab ... Cancer, HIV/AIDS etc.), Forecast to 2022" report to their ... ... especially clinical lab testing, which has evolved as a major ...
Breaking Medicine Technology: