Investors included Foundation Capital, Lanza techVentures and various individuals. Concurrent with the financing, Adam Grosser, a general partner with Foundation Capital, has joined Numerate’s board of directors.
Guido Lanza, president and CEO of Numerate, said: “This investment will help Numerate to pursue a broad range of partnering opportunities. Our plan is to deliver robust lead-stage programs in return for significant milestone and royalty payments that are linked to success in the lab, the clinic and the marketplace.
“In this way, we mitigate the chemical design risk for our partners. Adam Grosser’s extensive experience in launching innovative start-ups will be invaluable as we implement this strategy.”