Thursday, June 28, 2007

Koronis Raises $20M in Series D Funding

Redmond, Washington-based biopharamaceuticals firm Koronis Pharmaceuticals Inc. reported Thursday that it has raised $20M in a fourth series of financing. Koronis said Seattle-based venture capital firm Pacific Horizon Ventures led the effort with help from the Asset Management Company. Koronis said the money will help pay for proof-of-concept studies for a prospective HIV treatment that employs a novel technology called Viral Decay Acceleration. Koronis said the treatment, called KP-1461, has already begun its Phase 2a trials and should finish its testing by some time next year. Koronis Pharmaceuticals Inc. was founded in 1998 to commercialize research from the University of Washington and the Massachusetts Institute of Technology for treating viral infections. More information »