Ambrosia Biosciences Announces $25MM Series A Financing, Including Strategic Investment by Merck
Summary
Post thisAmbrosia Biosciences Inc. ("Ambrosia"), today announced the successful second closing of its Series A financing. This closing was led by Merck, known as MSD outside the United States and Canada, with additional participation from existing investors BVF Partners and Boulder Ventures. "We are confident that orally administered, small molecule therapies will play a central role in shaping the next generation of treatments for obesity and metabolic disorders. "The proceeds from the financing will be used to further Ambrosias drug discovery efforts as it initiates preclinical development operations at the previous Array BioPharma campus in Boulder, CO. Traggis added, "The Ambrosia team has made impressive progress with our CRO partners, and were now poised to accelerate these efforts even further with the added capabilities of our in-house medicinal chemistry and biology teams. "Ambrosia Biosciences Inc. is a privately held drug discovery company developing orally delivered, small molecule-based therapies for obesity and other metabolic disorders.