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Satori Pharmaceuticals Raises $15M in New Funding
Date:2/23/2012

CAMBRIDGE, Mass., Feb. 23, 2012 /PRNewswire/ -- Satori™ Pharmaceuticals, a developer of life changing therapeutics for Alzheimer's disease (AD), today announced that it has raised an additional $15 million in financing. Current investors InterWest Partners, New Enterprise Associates Inc. (NEA) and Prospect Venture Partners co-led the round. Prior to this round, Satori had raised a total of $25 million in financing which has allowed the Company to select a group of lead compounds poised for clinical development. Today, the Company also announced that Donald Hayden was elected as Chairman of the Board of Directors and that Dr. David Schnell, of Prospect Ventures and Stephen Muniz of PureTech Ventures were appointed as new members of Satori's Board.   

"It is becoming widely understood among experts in the field that the neurotoxic amyloid beta (AB) 42 peptide is a primary bad actor in the onset and progression of AD," said Hayden. "Satori has demonstrated in a preclinical setting that modulating gamma-secretase has the potential to effectively and selectively lower levels of AB42 – the main component of amyloid beta plaques. I am particularly drawn to Satori's ambitious goal of developing a safe, oral drug with the potential to slow or stop the progression of the disease."

"Today's announcement demonstrates that Satori is taking the next step in its growth as a company," said Dr. Jeffrey Ives, CEO. "Until now we have been quietly validating the scientific approach behind our lead compounds – which are orally available, highly selective and what we believe to be the best in the industry pipeline. This round of funding and the addition of three great advisors in Don, David and Steve position us nicely as we prepare to begin clinical work on those lead compounds."

Mr. Hayden brings to Satori the experiences and perspective resulting from a highly successful 25-year career with Bristol-Myers Squibb Company as
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SOURCE Satori(TM) Pharmaceuticals
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