Thursday, January 21, 2010

Elevation Pharmaceuticals Gains $30M

San Diego-based Elevation Pharmaceuticals, a biopharmaceuticals firm developing treatments for repiratory diseases, said Thursday that it has closed on $30M of Series A funding. The funding came from Canaan Partners, TPG Growth, Care Capital, and Mesa Verde Venture Partners. Elevation Pharmaceuticals said it is developing new aerosol therapies, including a lead long-acting bronchodilator targeted at patients with chronic obstructive pulmonary disease (COPD). As part of the funding Brent Ahrens of Canaan, Heather Preston of TPG Biotech, and Jan Leschly of Care Capital have joined the firm as part of the funding. Cam Garner is Chairman of the firm, and Bill Gerhart is President and CEO More information »