SURFACE LOGIX INC. RAISES $20 MILLION IN SECOND TRANCHE OF SERIES D FINANCING
BOSTON, Mass. (April 3, 2007) -- Surface Logix Inc.
announced today that it has closed on $20 million in
a second tranche of the Company's Series D
financing. The first close for this round took place
in October 2005 and brought in proceeds of $32
million. The additional funds bring the total
proceeds for the round to $52 million. Participants
in the round included current Surface Logix
investors, Venrock Associates, ARCH Venture
Partners, CW Group, HBM BioVentures, Unilever
Technology Ventures and others.
"We
are grateful for the strong support from our investors,
and based on the significant progress we made over the
last 18 months, we were able to raise twice the amount
originally anticipated for this second tranche,"
commented Jim Mahoney, Surface Logix's President and
CEO. "Since our last financing round, we completed a
Phase 2a trial with SLx-2101, our PDE5 inhibitor.
Efficacy assessments showed a potential for clinical
benefit with a favorable safety profile. The data also
support potential utility in several cardiovascular
indications. In addition, we completed a
first-time-in-human and a repeat-dose Phase 1 trial for
our MTP inhibitor, SLx-4090. With these studies, we
demonstrated reductions in post-meal triglyceride and
LDL levels and showed that SLx-4090 was well tolerated.
With the proceeds from this financing round, we plan to
conduct Phase 2a studies with SLx-2101 in Raynaud's
Syndrome and Hypertension and a Phase 2a study for
SLx-4090 in dyslipidemia."
About
Surface Logix Inc.
Surface
Logix Inc. uses its expertise in biophysical chemistry
to create new small molecule drugs that are optimized to
meet the challenges of human physiology. The company is
advancing multiple internal programs focused primarily
on cardiovascular, metabolic, inflammatory and fibrotic
diseases. For more information, please visit
http://www.surfacelogix.com
Contact:
Leland Webster, Ph.D., M.B.A.
Surface Logix Inc.
Vice President, Corporate Development
617.746.8520
Media:
Kari Watson
MacDougall Biomedical Communications Inc.
kwatson@macbiocom.com
508.647.0209
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