Cetek Corporation Secures $16M in Private Funding to Advance Drug Compounds.Business Editors/Health/Medical Writers BIOWIRE2K MARLBOROUGH, Mass.--(BUSINESS WIRE)--April 12, 2004 Cetek Corporation announced today that it has closed on a $16M private equity financing Equity Financing The act of raising money for company activities by selling common or preferred stock to individual or institutional investors. In return for the money paid, shareholders receive ownership interests in the corporation. to advance novel natural product drug compounds using its Natural Product Factory(TM). Investors include John and Stephen Davis, Gainsborough Investments, Argonaut Private Equity and James L. Waters. With this financing, Cetek Corporation has raised more than $50M since its inception. "This financing will allow us to advance our pre-clinical compounds to the next level of value creation" stated James L. Waters, Chief Executive Officer of Cetek Corporation. "Our proprietary technologies and -"factory"- concept have resulted in our finding many novel, patentable compounds that are potential drug candidates in key therapeutic areas. We are taking these compounds into development and making them available for out-licensing to pharmaceutical and biotechnology companies Top 100 Biotechnology Companies The following is a list of the top 100 biotechnology companies ranked by revenue. The first nine companies qualify for the list of the top 50 pharmaceutical companies. ." Cetek Corporation is a drug discovery company with expertise in finding novel, patentable compounds with drug-like properties from natural extracts. Cetek utilizes several proprietary technologies in a high-throughput "factory" environment. Cetek also collaborates with pharmaceutical companies in taking their targets through Cetek's Natural Product Factory(TM) and delivering high quality, preclinical preclinical /pre·clin·i·cal/ (-klin´i-k'l) before a disease becomes clinically recognizable. pre·clin·i·cal adj. 1. drug-candidates. Cetek focuses on infectious disease Infectious disease A pathological condition spread among biological species. Infectious diseases, although varied in their effects, are always associated with viruses, bacteria, fungi, protozoa, multicellular parasites and aberrant proteins known as prions. , cancer, diabetes, and Alzheimer's disease Alzheimer's disease (ăls`hī'mərz, ôls–), degenerative disease of nerve cells in the cerebral cortex that leads to atrophy of the brain and senile dementia. . Cetek has collaborations with companies in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , Europe and Japan. For additional information, visit Cetek's website at http://www.cetek.com or contact Dr. James N. Little, President, at (508) 229-8900 or j.little@cetek.com. |
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