By Jennifer Chiou
New York, Jan. 3 - Cetek Corp. said it obtained $10 million in financing.
Investors included Argonaut Private Equity, Ventry Industries LLC, Gainesbourgh Investments, James L. Waters and Stata Ventures.
"Cetek is well positioned in the current environment, with pharmaceutical and major biotechnology companies increasingly turning to novel, time and cost-efficient approaches to drug discovery and to innovative earlier-stage compounds to strengthen their pipelines," president and chief executive officer Barry Berkowitz said in a news release.
Proceeds will go towards advancing the company's proprietary drug discovery platform and its emerging pipeline of compounds to treat cancer and infectious diseases.
The company also announced it formed a scientific advisory board comprised of experts in oncology, infectious disease, clinical medicine and drug discovery. Cetek founder Barry L. Karger is the board's chairman. Members include K. Frank Austen of Harvard Medical School, James D. Griffin of Harvard Medical School, Charles L. Cooney of MIT and Martin S. Hirsch of Harvard Medical School.
Based in Marlborough, Mass., Cetek is a development-stage pharmaceutical company focused on drug screening with its core technology based on a proprietary capillary electrophoresis screening - CE Assay - technology.
| Issuer: | Cetek Corp.
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| Issue: | Stock
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| Amount: | $10 million
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| Investors: | Argonaut Private Equity, Ventry Industries LLC, Gainesbourgh Investments, James L. Waters, Stata Ventures
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| Announcement date: | Jan. 3
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