In this paper we will discuss about the recent business deal made by Travena Inc., a pharmaceutical company. The announcement was made in March 2008. It secured 24 million dollars investment from Alta Partners, based in San Francisco. The other investors are Polaris Venture Partners and New Enterprise Associates.
This deal will help the company accelerate its new drug discovery projects. In March 2008, Travena Inc. disclosed its recent business deal with Alta Partners. The latter along with Healthcare Ventures, Polaris Venture Partners and New Enterprise Associates will invest 24 million dollars in Travena.
Travena Inc. is a pharmaceutical company who are used to discover several life saving drugs. It focuses highly on G-protein coupled receptors. The company’s drug discovery platform got the license from the Medical Center of Duke University.
Alta Partners, situated in San Francisco, was established in 1996. It is basically a venture capital firm, which specializes in investments in the health sector.
The company is currently running its seventh venture program and has capital worth 2 billion dollars. It has already invested in over 120 companies around the world.
New Enterprise Associates is also a venture capital company who usually invests in those health companies who are in nascent stage. Till date, New Enterprise has invested in more than 550 companies across the globe. Its capital amount is now nearly 8.5 billion dollars.
Travena will use the money to fund its several new drug discovery programs, for example, development of new GPCR-based drugs.