Friday, June 16, 2006

VLST Raises $55M

Seattle-based VLST Corporation has raised a $55M venture capital round, the firm said this morning. VLST said it raised the Series B financing from Texas Pacific Group Ventures, along with existing investors MPM Capital, ARCH Venture Partners, OVP Venture Partners, and Amgen Ventures. The round also included MedImmune Ventures and WRF Capital. VLST will use the funding to take its lead product candidate through a Phase 2 proof-of-concept clinical trial, and to fund two additional programs. VLST is using bioinformatics and proteomics to identify viral genes that might be candidates for the treatment of autoimmune and inflammatory diseases. More information »