ARTICLE | Finance

Ebb & Flow Focus

June 21, 2004 7:00 AM UTC

Symphony Capital is taking a new tack on the SWORD financing model. Rather than forming a new public entity - a stock warrant off-balance sheet research and development company - to develop compounds from a pharma or biotech company, Symphony is keeping it private.

The firm last week announced its first such venture: Symphony Neuro Development Co., which raised $43 million and in-licensed the neuroimmunophilin ligand GPI 1485 from Guilford Pharmaceuticals Inc. for central and peripheral nervous system disorders(see B3). ...