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Adenosine Therapeutics Announces Venture Financing With the Emerging Technology Partners

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  • Adenosine Therapeutics Announces Venture Financing With the Emerging Technology Partners

    Adenosine Therapeutics Announces Venture Financing With the Emerging Technology Partners
    Tuesday September 9, 8:05 am ET
    Acquires License to Aptus Pharmaceuticals Adenosine Screening Technology

    CHARLOTTESVILLE, Va., Sept. 9 /PRNewswire/ -- Adenosine Therapeutics, LLC announced today the completion of a round of venture financing with the Emerging Technology Partners of Rockville, MD. In the transaction, the Company also acquired adenosine screening technology from Aptus Pharmaceuticals.
    The financing is structured as a first closing on a larger round of investment. Together with its other financial resources, this financing will provide two years of capital to the company.

    "We are very pleased to have the Emerging Technology Partners as part of the Adenosine Therapeutics team," said Robert S. Capon, CEO and co-founder of Adenosine Therapeutics, LLC. "ETP has tremendous pharmaceutical industry experience and their involvement enhances the company's business development program."

    "ETP is enthusiastic about our investment in Adenosine Therapeutics," said Bill Snider, General Partner of Emerging Technology Partners. "The company has established one of the world's leading adenosine drug discovery programs whose potential is increased by its strong management team."

    The technology licensed from Aptus Pharmaceuticals is a robust, high throughput screening technology that complements the company's existing technology to invent novel compounds that are selectively active on the four adenosine receptor subtypes.

    Adenosine Therapeutics focuses on the discovery and development of novel pharmaceutical products that target adenosine receptor subtypes. Candidates for drug development are identified and screened using the Company's state of the art platform technology. The Company was founded with the goal of bringing new adenosine-receptor selective drugs into clinical trials for a broad range of potential indications. These drug indications include inflammatory indications, sepsis, heart attack, ischemia-reperfusion injury, vascular injury, spinal cord injury, organ transplantation, COPD, asthma, diabetes, inflammatory bowel disease, retinopathy, epilepsy, Parkinson's disease, and site-specific angiogenesis. The company's most advanced drug development program is in Phase II clinical development.

    Emerging Technology Partners, based in Rockville, MD, is a life sciences focused venture capital investment firm with $60 million under management.

    Source: Adenosine Therapeutics, LLC

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