Monday, November 23, 2009

Receptos Gains $25M In Series A

San Diego-based Receptos, a biopharmaceuticals firm based on technology out of the Scripps Research Insitute, announced today that it has raised $25M in the close of a two-tranche Series A financing. The firm said that the capital came from ARCH Venture Partners, Flagship Ventures, Lilly Ventures, and Venrock. Receptos is developing drug discovery technology which is based on research at The Scripps Research Institute. Receptos co-founders Professor Raymond Stevens, and Professor Hugh Rosen, developed the technology at Scripps. According to the firm, the Series A financing will support the company's lead clinical candidate through Phase 1 human clinical trials, development of a second candidate, and for partnerships. More information »

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