Rincon Pharmaceuticals Raises $4.7M

La Jolla-based Rincon Pharmaceuticals has raised $4.7M in venture funding from Paperboy Ventures. The biotech startup is developing human therapeutic proteins based on eukaryotic algae, and is based on research from researchers at the Scripps Research Institute. The company is looking to use algae as a rapid and efficient production system for monoclonal antibodies. As part of the funding Jaime Lewis of Paperboy will join the company's board. More information »