Vascular raises $16M in series A

Vascular Pharmaceuticals Inc. (Chapel Hill, N.C.) raised $16 million in a series A round co-led by new investors Intersouth Partners and MPM Capital. Vascular is developing VPI-2690B, a humanized mAb against integrin alpha(5)beta(3) (CD49e/CD61) in preclinical testing for diabetic nephropathy. The company plans to submit an IND in 2H13 to begin clinical trials. ...