UW Spin-out Resolve Therapeutics Raises $5.8 Million in Private Financing
Seattle, WA – (November 1, 2012) – Resolve Therapeutics, LLC today announced that the company has raised $5.8 million in a Series B private-equity financing. The financing was led by previous investor New Science Ventures, with the participation of new investor WRF Capital (venture investment arm of Washington Research Foundation) and previous investor Easton Capital.
“These funds give Resolve the necessary resources to advance our investigational lupus compound RSLV-132 into clinical trials, which we expect to start in mid-2013,” said James Posada, Ph.D., Chief Executive Officer of Resolve. “We are excited about this novel new approach to treating lupus, which eliminates the immune complexes that represent one of the central causes of the disease. More importantly, the leading pharmaceutical companies are excited by it as well, which portends a bright future for Resolve.”
Read the complete press release.
See coverage in Xconomy.
See coverage in GeekWire.