By Jennifer Chiou
New York, Feb. 7 - ARYx Therapeutics Inc. said it obtained $30.4 million in series E financing.
Ascent Biomedical Ventures led investors, which included MPM Capital, Nomura Phase4 Ventures, OrbiMed, Merlin BioMed, Jafco Life Science Investments, Scottish Widows Investment Partnership, Montreux Equity Partners and Novel Bioventures.
Proceeds will go towards the development of the company's three clinical programs: ATI-2042 for atrial fibrillation, ATI-7505 for gastroesophageal reflux disease and ATI-5923, an oral anti-coagulant therapy.
"This financing gives the company a lot of flexibility as it provides sufficient resources to enable the company to aggressively pursue all three clinical programs," chairman and chief executive officer Paul Goddard said in a news release.
"Based upon our current plans, the financing will allow us to complete the proof of concept studies on all three of our products that are currently in the clinic."
Based in Fremont, Calif., ARYx Therapeutics is a privately held pharmaceutical research and development company focused on safety concerns in existing therapies.
| Issuer: | ARYx Therapeutics Inc.
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| Issue: | Preferred stock
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| Amount: | $30.4 million
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| Round: | Series E
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| Investors: | Ascent Biomedical Ventures (lead), MPM Capital, Nomura Phase4 Ventures, OrbiMed, Merlin BioMed, Jafco Life Science Investments, Scottish Widows Investment Partnership, Montreux Equity Partners, Novel Bioventures
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| Announcement date: | Feb. 7
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