BioCentury
ARTICLE | Finance

X marks the spot

Trio of investors back newco Alexar, topical LXR agonist for inflammation

January 6, 2014 8:00 AM UTC

Alexar Therapeutics Inc. isn't going after a novel target - LXR has been around for decades - but the newco is one of only two biotechs developing a topical agonist of the liver X receptor. Investors backed Alexar with a $21.5 million series A round to develop lead topical agonist A-110 in inflammatory cutaneous disorders.

New Science Ventures and Third Point Ventures led the round, and Palo Alto Investors participated...