Apoptos Raises $28M

San Diego-based Apoptos, a developer of oncology drugs, announced Tuesday that the company has raised $28M in funding. The firm said the Series A funding came in two tranches from Venrock, ARCH Venture Partners, Orbimed Advisors, and Advanced Technology Ventures. Apoptos is developing small molecule drugs for inducing tumor cell apoptosis--which will be applied to treating cancer. According to the firm, the funding will fund the company through 2010. The firm was founded by William H. Rastetter, Ph.D., who was previously Exec Chairman of Biogen Idec and is a partner at Venrock. More information »