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Biotech startup Armetheon raises $7m Series A

28 Aug 2014

medicMenlo Park-based biopharmaceutical startup Armetheon has raised $7m in a Series A round led by AshHill Biomedical Investments and Hercules Bioventures.

Atheneos Capital and Impax Laboratories founder Larry Hsu also participated in the round.

The company has recently reached agreement with the US Food and Drug Administration on a special protocol assessment for the final trial for Tecarfarin.

The treatment is currently being investigated for all patients who require an oral anticoagulant including patients with mechanical heart valves.

Armetheon co-founder and chairman Peter Milner said, “Tecarfarin, if approved, could become an important alternative VKA that is not metabolized via CYP enzymes or handled by P-glycoprotein. Studies have shown that existing OACs, including warfarin, interact with CYP-metabolizing enzymes or P-gp.”

Milner previously co-founded CV Therapeutics and ARYx Therapeutics, which have both been floated on the Nasdaq exchange.

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