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APT Pharmaceuticals Nets Series B Venture Capital

Wednesday, October 01, 2008 5:44:00 AM PDT | VentureDeal Staff

Burlingame, California  --  Pharmaceutical company APT Pharmaceuticals announced that it has raised $32 million in its second round of institutional venture capital financing.

APT is developing treatments for chronic pulmonary obstructive disease (COPD), rhinitis, asthma and rhinovirus.

Three Arch Partners led the round, which included InterWest Partners, Pinnacle Ventures, Charter Life Sciences Fund, Great Point Partners, Versant Ventures and Vivo Ventures.

The company said it would use the proceeds to complete its Pphase III program for cyclosporine inhalation solution.

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