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news.Meritage Pharma has raised $22.5 million in a series A financing, which included investors Domain Associates, Latterell Venture Partners and The Vertical Group.
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In connection with the series A financing, Meritage Pharma announced its founding management team: Cam Garner, chairman; Elaine Phillips, president and CEO; Malcolm Hill, chief scientific officer; and Adam Simpson, chief business officer.
Meritage Pharma’s initial product candidate, which was acquired from Verus Pharmaceuticals, is intended for the treatment of allergic inflammation of the gastrointestinal tract.
Dr Phillips said: “With the support of these leading venture capital investors, the completion of the acquisition from Verus and the formation of our management team, we are well positioned to execute our strategy. We intend to use the proceeds of this financing to continue the development of this initial product candidate and to look for additional product opportunities.”