Printer Friendly

MYCO PHARMACEUTICALS ANNOUNCES $6 MILLION FINANCING

 CAMBRIDGE, Mass., March 9 /PRNewswire/ -- Myco Pharmaceuticals, Inc. today announced that the company recently closed on $4 million and will complete its initial financing bringing the total to $6 million within the year. Bessemer Venture Partners and Technology Leaders Management, Inc. are the founding investors.
 "The funds will allow the company to accelerate its pharmaceutical discovery and development programs based on novel fungi-derived compounds and on advances in mycology and fungal genetics," commented Barry A. Berkowitz, Ph.D., president and chief executive officer of Myco. "Fungi represent a proven, vast but largely untapped source of therapeutic compounds. While fungi such as yeast have been widely used to answer fundamental questions in biology, we are the first company to assemble an interdisciplinary team to focus on fungi and fungal genetics as a strategic technology for drug discovery. Our initial therapeutic strategy is to develop novel anti-fungal and anti-infective drugs. In addition, our enabling technologies and large bank of fungal-based compounds have application in other disease categories, and represent important licensing opportunities."
 Dr. Berkowitz added, "The support by this group of quality investors represents a significant endorsement of our approach."
 Myco Pharmaceuticals, Inc. is engaged in the discovery and development of enabling technologies and novel pharmaceuticals derived from fungi and related microorganisms. Myco was founded in 1992 and is headquartered in Cambridge, Mass.
 -0- 3/9/93
 /CONTACT: Barry A. Berkowitz, Ph.D., president and CEO of Myco Pharmaceuticals Inc., 617-621-7073; or Robert Gottlieb, vice president of Feinstein Partners Inc., 617-577-8110 for Myco Pharmaceuticals Inc./


CO: Myco Pharmaceuticals Inc. ST: Massachusetts IN: MTC SU:

DD -- NE004 -- 4374 03/09/93 08:59 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Mar 9, 1993
Words:271
Previous Article:GLENDALE FEDERAL CONCLUDES EXCHANGE OFFER
Next Article:THERMO ELECTRON ANNOUNCES RECORD YEAR-END RESULTS
Topics:


Related Articles
SPI PHARMACEUTICALS REPORTS RECORD SECOND QUARTER SALES AND NET INCOME
LIDAK PHARMACEUTICALS COMPLETES SECOND STAGE OF 15.0 MILLION DOLLAR FINANCING
PHYTERA COMPLETES $8.4 MILLION FINANCING TO ACCELERATE THE DEVELOPMENT OF PLANT-BASED PHARMACEUTICALS; ESTABLISHES DANISH SUBSIDIARY
LIDAK Pharmaceuticals Completes 6.0 Million Dollar Financing
SciClone Completes $4 Million Equity Financing
SONUS REPORTS $3.5 MILLION 2ND QTR 2002 NET LOSS.
Leerink Swann & Company is Sole Advisor to Akorn, Inc.
Pal fund.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters