The long-term mission at ArmaGen is the development of BBB-penetrating biopharmaceuticals for diseases of the CNS that affect over 250 million people world-wide.
From PR Newswire:
“LOS ANGELES, Nov. 29, 2012 /PRNewswire/ — ArmaGen Technologies, Inc. today announced the closing of a $17 million Series A financing to support the development of brain-penetrating recombinant protein therapeutics. The lead investor is Boehringer Ingelheim Venture Fund, joined by Shire plc, Takeda Ventures, Inc., and Mitsui & Co. Global Investment, Inc. This funding will allow for expansion of existing operations, and the clinical development of potentially first-in-class biopharmaceuticals targeting diseases of the central nervous system (CNS), which are engineered to penetrate the blood-brain barrier (BBB).
“The ArmaGen investor syndicate is a unique group of Big Pharmas each with their own global impact. This is the first time such a diverse group from the pharmaceutical industry has come together to finance technology in the blood-brain barrier. I am very delighted at the trust our investors have placed in us,” said William M. Pardridge , MD, Founder and Chief Scientific Officer of ArmaGen…”