Navigation Links
aTyr Pharma Raises an Additional $12 Million
Date:7/28/2009

SAN DIEGO, July 28 /PRNewswire/ -- aTyr Pharma announced today that it has raised an additional $12 million to fund its discovery operations and development of its lead candidate. The company is discovering and developing biotherapeutics to treat a wide variety of diseases, including inflammation, autoimmune, hematopoietic and metabolic disorders. Founded in 2006 by Paul Schimmel, a Professor at The Scripps Research Institute and John Clarke of Cardinal Partners, aTyr Pharma's investors provided $12 million in 2007 to build aTyr Pharma's discovery engine and intellectual property. This new investment will be used to expand aTyr Pharma's discovery and preclinical platforms as well as to continue development of the lead drug candidate.

aTyr Pharma's product class is based on a novel group of naturally occurring resected proteins (resectins) from aminoacyl tRNA synthetases. While the large family of aminoacyl tRNA synthetases is universal and essential to protein synthesis in all organisms, resectins of human tRNA synthetases have additional potent cell signaling activities that are vital to normal functioning of humans. When Professor Paul Schimmel, an expert on tRNA synthetases and a successful biotechnology entrepreneur, began discovering the novel functions in this ancient class of proteins he realized that the tRNA synthetase resectins represented a rich source of proteins that had therapeutic potential. According to Jeff Watkins, CEO of aTyr Pharma, "This new financial support validates both the science and strategy of aTyr Pharma. Our strong investor group of Alta Partners, Cardinal Partners, Polaris Ventures and Paul Schimmel has valuable experience in founding and leading many successful biotechnology companies, including Alkermes, Alnylam Pharmaceuticals, Cubist Pharmaceuticals, Momenta Pharmaceuticals and Sirtris Pharmaceuticals. We are pleased to have support from these leading venture capital groups in the biotechnology industry."

Based in San Diego, aTyr Pharma has a majority owned subsidiary in China, Pangu BioPharma. Discovery efforts at Pangu BioPharma are based at the Hong Kong University of Science and Technology, with matching funding provided by the Hong Kong Government's Innovation and Technology Fund. Encouragement of biotechnology development by both the Chinese and Hong Kong governments allows aTyr Pharma to leverage investor dollars in the global economy, while at the same time offering the experienced leadership of a proven team to building biotechnology in Asia. Professor Schimmel points out, "The decision to have an Asian presence for aTyr Pharma was driven by our recognition of the progress China has made in meeting international standards while capitalizing on government support for building biotechnology in China. Pangu BioPharma has already identified multiple resectins for our discovery engine, increasing the number of drug candidates with the potential to treat a wide variety of diseases. While we expand our discovery and preclinical platforms in both San Diego and China, it is important for us to have funding for development of our lead candidate to confirm the therapeutic potential for our product class. This new round of financing from our investors is a gratifying endorsement of aTyr Pharma's discovery and development efforts."

About Alta Partners

Alta Partners is a San Francisco-based venture capital firm focused on life sciences investing. Founded in 1996, the firm has raised $2 billion in committed capital through eight 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 130 companies in the sector to date.

www.altapartners.com

About Cardinal Partners

With over $300 million under management, Cardinal Partners is a leading early-stage venture capital firm that seeks investment opportunities across the healthcare sector including life sciences, medical devices, and healthcare information technology. Cardinal's management team leverages their decades of experience to nurture today's enterprises into tomorrow's industry leaders. Together, the Cardinal Partners team has invested in over a hundred growth companies. Cardinal Partners is based in Princeton, New Jersey and also has offices in Laguna Beach, California and Wayne, Pennsylvania.

www.cardinalpartners.com

About Polaris Ventures

Established in 1996, with offices in Waltham and Seattle, Polaris has over $3 billion under management. Polaris Venture Partners have helped build numerous market leading companies, including Accordant Health Services, Advanced Inhalation Research, Akamai Technologies, Allaire, Alnylam Pharmaceuticals, American Superconductor, Aspect Medical Systems, Avici Systems, Centra Software, Classifieds2000, deCODE genetics, Exchange.com, Matrics, Microbia, Momenta Pharmaceuticals, Paradigm Genetics, Powersoft, PSCI, SolidWorks and TransForm Pharmaceuticals.

www.polarisventures.com


'/>"/>
SOURCE aTyr Pharma
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Anemia and tropical diseases; Is pharmacogenomics ready for the clinic?
2. Mylan Commences Tender Offers and Consent Solicitations for Its 5.750% Senior Notes Due 2010 and 6.375% Senior Notes Due 2015 in Connection With Its Proposed Acquisition of Mercks Generic Pharmaceutical Business
3. Arena Pharmaceuticals to Present at the NewsMakers in the Biotech Industry Conference
4. Caraco Pharmaceutical Laboratories, Ltd. Announces FDA Approval to Market Generic Version of Zyloprim(R)
5. The Pharma & Life Sciences Best Practice Database: an Industry Resource for Successful Techniques and Performance Benchmarks for Reaching the Top
6. Schering-Plough/Merck Pharmaceuticals Announce FDA Filing Acceptance of New Drug Application for Loratadine/Montelukast Tablet
7. Caraco Pharmaceutical Laboratories, Ltd. Announces FDA Approval to Market Generic Version of Adipex-P(R)
8. National Pharmaceutical Council Announces New Strategic Focus, Search for New Leadership
9. AKELA Pharma Inc. announces positive results for the extension part of its Phase IIb Fentanyl TAIFUN(R) trial
10. Caraco Pharmaceutical Laboratories, Ltd. Announces FDA Approval to Market Generic Version of Coreg(R)
11. Innocoll Agrees the Sale of its CollaRx(R) GENTAMICIN SURGICAL IMPLANT and European Sales and Marketing Infrastructure to EUSA Pharma
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/6/2016)... ... 06, 2016 , ... Research has shown that building shame ... frequency and level of relapse. , At the 2016 iaedp Symposium, ... explore the critical tasks of the recovery phase and beyond including relapse prevention ...
(Date:2/5/2016)... ... February 05, 2016 , ... Today, the Whole-Food Warrior ... that the much-anticipated feature with author Jahnavi Foster, specialist in healthy vegetarian cuisine, will ... , Each week, on his weekly Whole-Food Warrior TV show, Frank Davis highlights Whole-Food ...
(Date:2/5/2016)... Santa Rosa, CA (PRWEB) , ... February 05, ... ... are pleased to announce the addition of micro-needling services in their Napa Valley ... appearance. The founders of Plastic Surgery Associates, Dr. Canales and Dr. Furnas, are ...
(Date:2/5/2016)... ... February 05, 2016 , ... ... to funding innovative lymphoma research and serving the lymphoma community through a comprehensive ... once again host, Swirl, A Wine Tasting Event at the La Gorce Country ...
(Date:2/5/2016)... , ... February 05, 2016 , ... Regular gym users ... themselves having to wait longer to access the treadmills. It’s a predictable trend. After ... to lose weight and get in shape by joining gyms, starting new walking or ...
Breaking Medicine News(10 mins):
(Date:2/4/2016)... LONDON , Feb. 4, 2016 ... Summary Global Markets Direct,s, ,Wegener Polyangiitis - ... the Wegener Polyangiitis,s therapeutic pipeline. This report ... Wegener Polyangiitis, complete with comparative analysis at various ... action (MoA), route of administration (RoA) and molecule ...
(Date:2/4/2016)... Feb. 4, 2016 Summary Breast cancer, ... and the most common cancer in women worldwide, accounting ... exceedingly prevalent. The number of women diagnosed with breast ... the number of deaths has declined due to earlier ... has been revolutionized in the past four decades, especially ...
(Date:2/4/2016)... Frontier Pharma: Chronic Obstructive Pulmonary Disease ... Chronic Obstructive Pulmonary Disease (COPD) is ... the airways and lungs. Persistent breathing difficulties and ... one of the leading causes of morbidity and ... COPD is linked to cumulative exposure to risk ...
Breaking Medicine Technology: