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ARTICLE | Financial News

Heart Metabolics closes series A tranche

January 3, 2013 2:18 AM UTC

Heart Metabolics Ltd. (London, U.K.) raised $4 million in the first tranche of a planned $6 million series A round. Trans Tasman Commercialization Fund led the tranche, with participation from AshHill Investments. Additionally, Heart Metabolics hired Peter Milner as CEO and a director. Milner is a co-founder of Armetheon Inc. (Menlo Park, Calif.) and former president of ARYx Therapeutics Inc. (Pink:ARYX). Heart Metabolics also hired former FDA Deputy Commissioner Mary Pendergast as head of regulatory affairs and a consultant; and Philip Sussman, a managing partner at The Channel Group, as CFO. Trans Tasman's Andrew O'Brien and Michael Bettess joined Heart Metabolics' board, along with AshHill's Steven Smith. ...