Tioga Gets $12M

San Diego-based Tioga Pharmaceuticals has received $12M in Series A Funding from Forward Ventures, New Leaf Venture Partners, and BB Biotech Ventures. Tioga Pharmaceuticals is developing biopharmaceuticals for the treatment of gastrointestinal diseases, based on asimadoline, a small molecule. According to the company's backers, the financing will be used to fund two Phase II clinical trials for the company's compounds. Tioga acquired the rights to asimadoline from Merck KGaA in Germany. More information »