SAN DIEGO, Jan. 31 Sonexa Therapeutics, Inc., aclinical-stage biopharmaceutical company developing therapeutics for thetreatment of Alzheimer's disease, announced today that it has raised$30 million in a Series A round of financing. The financing was led by DomainAssociates, L.L.C., Scale Venture Partners and Alta Partners. Additionalinvestors included AgeChem Venture Fund, and MC Life Science Ventures. Sonexaalso announced the appointment of its Board of Directors. Sonexa founding CEOEckard Weber, M.D., will serve as Chairman. Weber, a Partner with DomainAssociates, is a founding CEO of more than a dozen biopharmaceutical companies.Additional Directors include Kim Puloma Kamdar, Ph.D., of Domain Associates,Lou Bock, a Managing Director with Scale Venture Partners, and RobertAlexander, Ph.D., with Alta Partners. The management team includes presidentand CMO Sharon Rogers, Ph.D., who played a leading role in developing Aricept,the top-selling Alzheimer's medication.
Proceeds from the financing will be used to fund the licensing anddevelopment of a novel drug being tested as a therapeutic to treat Alzheimer'sdisease. Sonexa has licensed worldwide, exclusive rights (except for Japan andcertain Asian countries) to the compound from a Japanese pharmaceuticalcompany. Human trials in the US are scheduled to begin February '08.
About Domain Associates
Founded in 1985, Domain Associates, L.L.C. is a venture capital firm withan exclusive focus on life sciences. With $2.1 billion of capital undermanagement, Domain is headquartered in Princeton, NJ with a second office inSan Diego, CA. Domain's three major investment segments are pharmaceuticals,specialty pharmaceuticals, and medical devices, while additional areas ofinterest include biomaterials, bioinstrumentation, and diagnostics. ThePartners of Domain have a total of close to 200 person-years of experienceamong them in the healthcare/venture capital industries and have been involvedin the formation and growth of more than 190 life-sciences companies. Formore information, visit http://www.domainvc.com.
About Scale Venture Partners
Based in Foster City, California, the ScaleVP team is a long-standingpartnership with a consistent, top quartile track record of returns. ScaleVenture Partners' insight-driven investment strategy, extensive operatingnetworks and go-to-market expertise help identify and build winning portfoliocompanies in technology and healthcare markets. The ScaleVP team's provenskill-set and active approach provides entrepreneurs a competitive advantagefor growth and category leadership. Representative portfolio companies includeAlimera Sciences, Discera, Frontbridge, Glu Mobile, mBlox, Monolithic PowerSystems, National Healing, NComputing, Omniture, Orexigen, ScanSafe, Somaxon,Vantage Media, Waterfront Media, Xceive and Zogenix. For more information,visit http://www.scalevp.com.
About Alta Partners
Alta Partners is a San Francisco based venture capital firm focused onlife sciences investing. Founded in 1996, the firm currently manages over $2billion in committed capital through eight venture fund programs. Altainvests in life sciences companies across the development continuum, fromcompany formation to later-stage venture opportunities, and has funded over110 companies in the sector to date. For more information, please visithttp://www.altapartners.com.Media Contact: For Sonexa: Eckard Weber, MD CEO Sonexa Therapeutics, Inc. firstname.lastname@example.org 858-480-2400 For Scale Venture Partners: Carol Sacks Tenor Communications email@example.com 650.520.8261
SOURCE Sonexa Therapeutics, Inc.