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Jul 10, 2009

Presidio Secures $27M to Advance Preclinical Assets

  • Presidio Pharmaceuticals closed a $27 million financing round bringing the total raised to about $53 million. The funds will be used to advance its NS5A inhibitor program in HCV through clinical studies and to support the development of other programs in the pipeline.

    The firm’s other preclinical candidate, PPI-802, is being investigated as a treatment of HIV. Additionally, Presidio has an HIV and an HCV program at the discovery stage.

    New Leaf Venture Partners joined the current investors, Panorama Capital, Baker Brothers Investments, Ventures West Capital, Bay City Capital, Nexus Medical Partners, and Sagamore BioVentures. The last investment round of $26 million was led by Panorama Capital.     

     



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Scientifically Studying Ecstasy

MDMA (commonly known as the empathogen “ecstasy”) is classified as a Schedule 1 drug, which is reserved for compounds with no accepted medical use and a high abuse potential. Two researchers from Stanford, however, call for a rigorous scientific exploration of MDMA's effects to identify precisely how the drug works, the data from which could be used to develop therapeutic compounds.

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