Wednesday, December 7, 2011
Aratana Therapeutics has closed a $15 million Series B financing, bringing the total capital raised since Aratana was launched earlier this year to $31 million.
In addition to Aratana’s Series A investors – MPM Capital, Avalon Ventures and Cultivian Ventures – new investors include the Ewing Marion Kauffman Foundation and others.
The proceeds from the Series B financing will be used to expand the pipeline of innovative products that the company has already acquired. The additional resources allow for a more aggressive approach to in-license and develop novel medicines for dogs and cats.
“We are extremely pleased that the investment community has responded so positively to our unique approach to veterinary drug development and our focus on delivering innovative, leading-edge products to meet previously unmet or under-served needs in companion animal medicine,” said Dr. Linda Rhodes, CEO of Aratana Therapeutics.