ARTICLE | Financial News

Armetheon raises $24.3M in series B

February 6, 2015 2:13 AM UTC

Armetheon Inc. (Menlo Park, Calif.) raised $24.3 million in a series B round led by existing investor Hercules Bioventure Partners and new investor Capital TEN II. New investors China Development Industrial Bank Healthcare (CDIB); CDIB & Partners; iD SoftCapital Group; and AmKey Ventures, as well as individual investor Stefan Roever, also participated, as did existing investor Larry Hsu.

The company plans to start an open-label Phase III trial next half of anticoagulant tecarfarin, a long-acting inhibitor of vitamin K epoxide reductase complex subunit 1 ( VKORC1). The trial will include a variety of patients, including groups Armetheon President and interim CEO Ken Kengatharan called "underserved populations," such as patients who respond poorly to warfarin and patients with prosthetic heart valves for whom anti-thrombin or Factor Xa inhibitors are contraindicated or not recommended. ...