BOSTON, April 3 /PRNewswire/ -- Surface Logix Inc. announced today that
it has closed on $20 million in a second tranche of the Company's Series D
financing. The first close for this round took place in October 2005 and
brought in proceeds of $32 million. The additional funds bring the total
proceeds for the round to $52 million. Participants in the round included
current Surface Logix investors, Venrock Associates, ARCH Venture Partners,
CW Group, HBM BioVentures, Unilever Technology Ventures and others.
"We are grateful for the strong support from our investors, and based
on the significant progress we made over the last 18 months, we were able
to raise twice the amount originally anticipated for this second tranche,"
commented Jim Mahoney, Surface Logix's President and CEO. "Since our last
financing round, we completed a Phase 2a trial with SLx-2101, our PDE5
inhibitor. Efficacy assessments showed a potential for clinical benefit
with a favorable safety profile. The data also support potential utility in
several cardiovascular indications. In addition, we completed a
first-time-in-human and a repeat-dose Phase 1 trial for our MTP inhibitor,
SLx-4090. With these studies, we demonstrated reductions in post-meal
triglyceride and LDL levels and showed that SLx-4090 was well tolerated.
With the proceeds from this financing round, we plan to conduct Phase 2a
studies with SLx-2101 in Raynaud's Syndrome and Hypertension and a Phase 2a
study for SLx-4090 in dyslipidemia."
About Surface Logix Inc.
Surface Logix Inc. uses its expertise in biophysical chemistry to
create new small molecule drugs that are optimized to meet the challenges
of human physiology. The company is advancing multiple internal programs
focused primarily on cardiovascular, metabolic, inflammatory and fibrotic
diseases. For more information, please visit http://www.surfacelogix.com.
Contact:
Warwick Tong MB ChB
Surface Logix Inc.
Senior Vice President, Commercial Development
617.746.8505
Media:
Kari Watson
MacDougall Biomedical Communications Inc.
kwatson@macbiocom.com
508.647.0209
SOURCE Surface Logix Inc.
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Related links:
http://www.surfacelogix.com
CONTACT:
Warwick Tong MB ChB, Senior Vice President,
Commercial Development of Surface Logix Inc., +1-617-746-8505;
Kari Watson of MacDougall Biomedical Communications Inc.,
+1-508-647-0209, kwatson@macbiocom.com for Surface Logix Inc.
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