|
|
|
|
|
|
|
|
||
|
|||||||
|
|||||||
 |
| SPROUT GROUP ANNOUNCES $12M FINANCING IN SOPHERION THERAPEUTICS |
 |
| Sprout Capital
Business Wire, September 24, 2004 Sprout Group announced that the Company has invested $12 million as part of a $47 million Series B Financing in Sopherion Therapeutics, Inc., a biopharmaceutical company focusing on the development and commercialization of anti-cancer therapies. In addition to Sprout Group's financing and a lead investment by TL Ventures, the remainder of the funding came from ProQuest, Canaan Partners, HealthCap, NewSpring Ventures, L.P., Commerce Health Ventures, and Seaflower Ventures. In connection with the financing, Andrew D. Firlik, M.D., partner for Sprout Group's healthcare technology investments, has joined Sopherion's board of directors. Dr. Firlik commented, "Sprout's commitment as the largest new investor in the current Series B round demonstrates our strong belief in Sopherion's vision and senior leadership. Sopherion has a promising research platform in oncology and has in-licensed North American rights for a lead cancer product, Myocet, which the Company expects to launch in Canada as early as the second quarter of 2005." Myocet is approved in Canada and will undergo additional clinical studies in the United States prior to Sopherion's filing a New Drug Application with the U.S. Food & Drug Administration. Sopherion Therapeutics, Inc. is a privately-held biotechnology company based in New Haven, Connecticut. The Company is focused on developing novel anti-cancer therapies for patients suffering with advanced cancer, including metastatic disease. Sopherion is dedicated to the acquisition, discovery, development, and commercialization of novel anti-cancer therapies with unique therapeutic activities that address unmet medical needs in the oncology arena and that extend and enhance human life. For more information, visit www.sopherion.com. Founded in 1969, Sprout Group is one of the oldest and largest venture capital firms in the United States. Sprout has helped finance more than 300 companies with combined sales exceeding $40 billion and currently manages approximately $2 billion in committed capital. With offices in Menlo Park and New York, Sprout focuses on helping to grow promising companies at all stages of development in the healthcare technology and information technology sectors. Sprout's healthcare team is actively investing in medical devices, biopharmaceuticals, and laboratory technologies and services. Representative recent healthcare technology investments include: Adolor Corporation, Aspreva Pharmaceuticals, Corixa, Epicor, Focus Technologies, ISTA Pharmaceuticals, Kalypsys, Sirna Therapeutics, Spiration, TolerRx, Inc., and Visiogen. Sprout Group is a venture capital affiliate of Credit Suisse First Boston. |
For general questions or information, please contact us by telephone, or email us at: info@sproutgroup.com