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Motif BioSciences Raises $1 Million Series C Financing

Tuesday, April 10, 2007 5:00:00 AM PDT | VentureDeal Staff

NEW YORK, NY -- Genetics company Motif BioSciences announced that it has received $1 million or its planned $3 million series C financing from partner firm Amphion Innovations Plc. of New York.

The company is focused on discovering genes causing common diseases utilizing human data obtained from the Persian/Arabian Gulf region where populations are less genetically diverse and easier to analyze via applied genomics.

Motif states that the current funding round will support its research in the areas of type-2 diabetes and asthma.  The company's business model is to develop promising drug candidates for outlicensing to large pharmaceutical companies.

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