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:3/24/2017)... (PRWEB) , ... March 24, 2017 , ... ... Nursing Society (ONS) wanted to create a communications platform that positions them as ... goal, Elliance and ONS reinvented their online publication as an always-on, always-fresh news, ...
(Date:3/24/2017)... ... March 24, 2017 , ... Gastro ... their partnership to prep patients for colonoscopy at the HyGIeaCare® Center that is ... Ave., Miami, FL. , The HyGIeaCare® Prep, cleared by the U.S. ...
(Date:3/24/2017)... ... March 24, 2017 , ... “Vintage and Harvest A Cultivation of ... college Bible teacher residing in North Carolina with his wife, Anna Marie. He and ... with six grandchildren. David is also the author of “Shadow and Substance.” , “Love, ...
(Date:3/23/2017)... ... ... The physicians of KSF Orthopaedic Center PA are proud to announce the ... located at 2255 E. Mossy Oaks Rd., Suite 440, Spring, Texas 77389 inside the ... living in the north Houston area (The Woodlands, Conroe, Magnolia, Kingwood, Humble) with an ...
(Date:3/23/2017)... Holland, PA and Grimsby, Ontario (PRWEB) , ... March 23, 2017 , ... The MBI ... the modular industry or whose acts have had a significant impact on the careers of ... Sales and Marketing with NRB Inc. was inducted into the MBI’s Hall of Fame. ...
Breaking Medicine News(10 mins):
(Date:3/24/2017)... SAN DIEGO , March 24, 2017  GenomeDx ... (Genomics Resource Information Database) and Decipher® Prostate Cancer Classifier ... Annual European Association of Urology (EAU) Congress held March ... . The Annual EAU Congress is ... and most comprehensive research in the urological field. ...
(Date:3/24/2017)... BOTHELL, Wash. , March 23, 2017 /PRNewswire/ ... developer of advanced medical technology for non-invasive surgery, ... the Mirabilis System for treatment of uterine fibroids ... that it had received approval from the US ... study of the Mirabilis System in the United ...
(Date:3/24/2017)... The Board of Directors of Nordic Nanovector ASA ... the complete 2016 Annual Accounts with notes. The report is ... in the section Investor Relations/Reports and presentations/Annual Reports. ... For further information, ... Officer Cell: +47-91-51-95-76 Email: ir@nordicnanovector.com Media ...
Breaking Medicine Technology: