Monday, January 8, 2007

Proprius Pharmaceuticals Raises $11M

San Diego-based Proprius Pharmaceuticals said today that it has completed a $11M Series A funding round for its non-steroidal anti-inflammatory compounds (NSAID) for the treatment of osteoarthritis of the knee. The funding also includes possible expansion of the round to $17M if needed for new programs. The round was led by Atlas Ventures, and also included Forward Ventures, and CDIB BioScience Venture Management, as well as previous investors Fog City Fund and Windamere Venture Partners. The funding will go towards completing the firm's Phase II trials of its compound Indaflex. More information »